Gainplan LLC Grows Stake in QXO, Inc. $QXO

Gainplan LLC increased its position in shares of QXO, Inc. (NYSE:QXO) by 68.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 212,680 shares of the company’s stock after buying an additional 86,458 shares during the quarter. QXO comprises about 1.7% of Gainplan LLC’s portfolio, making the stock its 7th biggest position. Gainplan LLC’s holdings in QXO were worth $4,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of QXO by 3,281.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,762 shares of the company’s stock valued at $92,000 after acquiring an additional 6,562 shares in the last quarter. HighTower Advisors LLC increased its stake in QXO by 28.3% during the 1st quarter. HighTower Advisors LLC now owns 227,210 shares of the company’s stock valued at $3,076,000 after purchasing an additional 50,088 shares in the last quarter. Northern Trust Corp increased its stake in QXO by 13.4% during the 1st quarter. Northern Trust Corp now owns 829,496 shares of the company’s stock valued at $11,231,000 after purchasing an additional 97,886 shares in the last quarter. Capital Fund Management S.A. acquired a new position in QXO during the first quarter worth $2,345,000. Finally, AlphaQuest LLC bought a new position in shares of QXO in the first quarter valued at $65,000. Institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QXO. Benchmark upgraded shares of QXO to a “strong-buy” rating in a report on Monday, August 25th. Raymond James Financial began coverage on shares of QXO in a report on Friday, September 5th. They set an “outperform” rating and a $28.00 price target on the stock. Truist Financial cut their target price on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Zacks Research lowered QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Finally, Loop Capital assumed coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and a consensus target price of $32.71.

QXO Price Performance

QXO stock opened at $21.89 on Friday. The business’s 50 day simple moving average is $18.76 and its 200 day simple moving average is $19.94. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $24.69. The company has a market cap of $14.76 billion, a price-to-earnings ratio of -49.75, a PEG ratio of 3.18 and a beta of 2.42. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

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

QXO Company 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.