Lombard Odier Asset Management Europe Ltd Sells 118,474 Shares of QXO, Inc. $QXO

Lombard Odier Asset Management Europe Ltd decreased its holdings in QXO, Inc. (NYSE:QXO) by 13.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 733,928 shares of the company’s stock after selling 118,474 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in QXO were worth $14,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sunbelt Securities Inc. increased its position in QXO by 6.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after buying an additional 400 shares during the last quarter. Cherry Creek Investment Advisors Inc. boosted its position in QXO by 0.6% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after buying an additional 474 shares during the period. NewEdge Advisors LLC grew its holdings in QXO by 42.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Maple Capital Management Inc. grew its stake in shares of QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after purchasing an additional 543 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in QXO by 27.2% during the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Down 0.9%

NYSE:QXO opened at $13.71 on Friday. The firm has a market capitalization of $9.94 billion, a P/E ratio of -15.06, a PEG ratio of 3.51 and a beta of 2.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. QXO, Inc. has a one year low of $13.32 and a one year high of $27.61. The company’s 50-day simple moving average is $16.09 and its 200 day simple moving average is $20.01.

QXO (NYSE:QXO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. The firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. As a group, analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Citigroup lowered their price objective on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, July 13th. Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Finally, Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.57.

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.