M Holdings Securities Inc. Purchases New Stake in QXO, Inc. $QXO

M Holdings Securities Inc. acquired a new position in QXO, Inc. (NYSE:QXO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 57,070 shares of the company’s stock, valued at approximately $1,189,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its stake in shares of QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares during the last quarter. AlphaQuest LLC grew its holdings in QXO by 22.9% during the second quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after purchasing an additional 1,099 shares during the period. Sheets Smith Wealth Management increased its position in QXO by 6.4% in the second quarter. Sheets Smith Wealth Management now owns 18,410 shares of the company’s stock worth $397,000 after buying an additional 1,112 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in QXO in the second quarter worth $25,000. Finally, Allworth Financial LP raised its stake in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after buying an additional 1,149 shares during the period. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Price Performance

Shares of NYSE:QXO opened at $20.60 on Friday. The company has a 50 day moving average of $18.37 and a 200 day moving average of $19.65. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.89 billion, a P/E ratio of -46.82, a P/E/G ratio of 3.05 and a beta of 2.42. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $24.69.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. QXO’s revenue was up 20726.7% on a year-over-year basis. As a group, sell-side analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Monday. Raymond James Financial started coverage on shares of QXO in a report on Friday, September 5th. They set an “outperform” rating and a $28.00 price objective on the stock. Vertical Research started coverage on shares of QXO in a research note on Tuesday, October 21st. They issued a “buy” rating and a $30.00 target price for the company. Zacks Research lowered shares of QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, KeyCorp set a $28.00 price objective on shares of QXO in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, QXO has an average rating of “Moderate Buy” and a consensus target price of $32.85.

QXO Profile

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.