Magnetar Financial LLC Purchases Shares of 127,210 QXO, Inc. $QXO

Magnetar Financial LLC purchased a new position in shares of QXO, Inc. (NYSE:QXO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 127,210 shares of the company’s stock, valued at approximately $2,425,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alpha Wave Global LP purchased a new position in shares of QXO in the second quarter valued at $525,366,000. Vanguard Group Inc. raised its position in shares of QXO by 91.0% in the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after purchasing an additional 22,484,977 shares in the last quarter. Affinity Partners GP LP raised its position in shares of QXO by 99.1% in the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after purchasing an additional 16,260,163 shares in the last quarter. Schf GPE LLC boosted its stake in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after buying an additional 8,943,089 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of QXO during the second quarter worth approximately $178,836,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Down 7.5%

NYSE QXO opened at $19.53 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. QXO, Inc. has a one year low of $11.97 and a one year high of $27.61. The company has a 50-day simple moving average of $23.77 and a 200-day simple moving average of $21.04. The firm has a market capitalization of $13.84 billion, a PE ratio of -33.10, a price-to-earnings-growth ratio of 3.37 and a beta of 2.51.

QXO (NYSE:QXO) last issued its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The business’s quarterly revenue was up 14725.0% compared to the same quarter last year. On average, equities analysts forecast that QXO, Inc. will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Oppenheimer upped their target price on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Truist Financial decreased their price target on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, December 19th. William Blair reissued an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Finally, Loop Capital began coverage on QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.