Sycale Advisors NY LLC Buys New Shares in QXO, Inc. $QXO

Sycale Advisors NY LLC bought a new stake in QXO, Inc. (NYSE:QXO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 293,000 shares of the company’s stock, valued at approximately $5,652,000. QXO accounts for about 1.8% of Sycale Advisors NY LLC’s portfolio, making the stock its 15th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. increased its position in shares of QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after acquiring an additional 474 shares during the period. Maple Capital Management Inc. increased its position in shares of QXO by 4.7% in the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after acquiring an additional 543 shares during the period. Allworth Financial LP increased its position in shares of QXO by 27.2% in the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after acquiring an additional 552 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after acquiring an additional 575 shares during the period. Finally, Alamea Verwaltungs GmbH increased its position in shares of QXO by 4.5% in the 4th quarter. Alamea Verwaltungs GmbH now owns 13,960 shares of the company’s stock valued at $269,000 after acquiring an additional 602 shares during the period. 58.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on QXO. Oppenheimer upped their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Stephens cut their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Royal Bank Of Canada cut their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, BNP Paribas Exane assumed coverage on QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

QXO Price Performance

Shares of QXO opened at $16.60 on Monday. The business’s 50-day moving average is $18.85 and its two-hundred day moving average is $21.01. The company has a market capitalization of $12.04 billion, a P/E ratio of -18.25, a P/E/G ratio of 4.26 and a beta of 2.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. Research analysts predict that QXO, Inc. will post 0.2 earnings per share 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. 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.