Matauro LLC Buys Shares of 100,086 QXO, Inc. $QXO

Matauro LLC purchased a new stake in QXO, Inc. (NYSE:QXO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 100,086 shares of the company’s stock, valued at approximately $1,908,000.

A number of other hedge funds have also modified their holdings of QXO. Farther Finance Advisors LLC acquired a new position in QXO in the second quarter valued at about $25,000. American Capital Advisory LLC increased its position in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after acquiring an additional 841 shares during the last quarter. Allworth Financial LP raised its stake in shares of QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of QXO in the 2nd quarter valued at approximately $28,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of QXO in the 2nd quarter worth approximately $30,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QXO has been the subject of a number of research analyst reports. Truist Financial lowered their price objective on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. KeyCorp set a $28.00 price target on QXO in a research note on Wednesday, October 1st. Benchmark upgraded QXO to a “strong-buy” rating in a research report on Monday, August 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a report on Monday, December 8th. Finally, Vertical Research began coverage on QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.57.

QXO Stock Performance

Shares of QXO stock opened at $21.84 on Friday. The firm has a 50 day moving average of $18.82 and a two-hundred day moving average of $19.98. The stock has a market capitalization of $14.73 billion, a PE ratio of -49.64, a P/E/G ratio of 3.35 and a beta of 2.42. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $24.69.

QXO (NYSE:QXO) last announced its quarterly earnings data 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.QXO’s revenue was up 20726.7% on a year-over-year basis. On average, research analysts predict that QXO, Inc. will post -0.13 EPS for the current fiscal 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. 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.