Penn Capital Management Company LLC Takes $620,000 Position in QXO, Inc. $QXO

Penn Capital Management Company LLC purchased a new position in shares of QXO, Inc. (NYSE:QXO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,915 shares of the company’s stock, valued at approximately $620,000.

Other large investors also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. bought a new stake in QXO in the 3rd quarter valued at about $3,739,000. CIBC Private Wealth Group LLC lifted its holdings in QXO by 40.7% during the third quarter. CIBC Private Wealth Group LLC now owns 43,482 shares of the company’s stock valued at $829,000 after purchasing an additional 12,585 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in QXO during the third quarter worth about $810,000. Alpine Global Management LLC bought a new position in QXO during the third quarter worth about $191,000. Finally, MTCO Ltd. purchased a new position in shares of QXO in the third quarter worth about $208,534,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Down 3.5%

Shares of QXO opened at $20.12 on Thursday. QXO, Inc. has a twelve month low of $11.97 and a twelve month high of $27.61. The stock has a market cap of $14.26 billion, a PE ratio of -34.11, a P/E/G ratio of 3.33 and a beta of 2.51. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $23.60 and its 200-day moving average price is $21.03.

QXO (NYSE:QXO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). 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 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on QXO shares. Truist Financial lowered their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, February 20th. Oppenheimer boosted their target price on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Finally, Loop Capital assumed coverage on QXO in a research report on Thursday, December 11th. They set a “buy” rating and a $31.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, QXO has an average rating of “Moderate Buy” and a consensus price target of $32.27.

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.