World Investment Advisors Purchases New Position in QXO, Inc. $QXO

World Investment Advisors purchased a new stake in shares of QXO, Inc. (NYSE:QXO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,693 shares of the company’s stock, valued at approximately $631,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of QXO during the 2nd quarter worth approximately $30,000. LRI Investments LLC increased its position in QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after acquiring an additional 835 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of QXO in the 3rd quarter worth $35,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of QXO in the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO stock opened at $15.91 on Wednesday. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of -17.48, a PEG ratio of 4.28 and a beta of 2.40. The company’s 50 day moving average is $20.10 and its 200 day moving average is $21.10. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 52-week low of $15.50 and a 52-week high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. QXO’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, sell-side analysts anticipate that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QXO. Oppenheimer increased their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. BNP Paribas Exane began coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective for the company. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday. Royal Bank Of Canada decreased their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

About QXO

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.