56,900 Shares in QXO, Inc. $QXO Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group acquired a new stake of 56,900 shares in QXO (~$1.085 million) during the third quarter, and institutional investors now own about 58.68% of the stock.
• Shares were trading down 7.5% and opened at $19.53, with a 52-week range of $11.97–$27.61, a market cap of $13.84 billion and a negative P/E of -33.10.
• QXO missed quarterly EPS (reported $0.02 vs. $0.03 expected) on $2.19 billion in revenue, and analysts' consensus is a Moderate Buy with an average price target of $32.43.

Jefferies Financial Group Inc. acquired a new stake in QXO, Inc. (NYSE:QXO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,900 shares of the company's stock, valued at approximately $1,085,000.

A number of other large investors have also modified their holdings of the business. SG Americas Securities LLC lifted its holdings in QXO by 5.0% in the third quarter. SG Americas Securities LLC now owns 17,499 shares of the company's stock valued at $334,000 after acquiring an additional 832 shares during the period. Future Financial Wealth Managment LLC increased its holdings in shares of QXO by 14.3% in the 3rd quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company's stock valued at $152,000 after purchasing an additional 1,000 shares in the last quarter. Allworth Financial LP lifted its stake in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company's stock valued at $26,000 after purchasing an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in QXO during the second quarter worth about $28,000. Finally, Bogart Wealth LLC purchased a new stake in QXO during the third quarter worth about $25,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Trading Down 7.5%

Shares of QXO opened at $19.53 on Friday. QXO, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The company 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. The stock has a fifty day moving average of $23.77 and a two-hundred day moving average of $21.04. 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 (NYSE:QXO - Get Free Report) last announced 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 had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.19 billion. The firm's quarterly revenue was up 14725.0% compared to the same quarter last year. As a group, analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on QXO shares. Benchmark reiterated a "buy" rating on shares of QXO in a research report on Friday, February 20th. Citigroup dropped their price objective on QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Oppenheimer boosted their target price on QXO from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, January 16th. Royal Bank Of Canada set a $30.00 target price on QXO in a report on Friday, January 9th. Finally, Wall Street Zen cut QXO from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, QXO has an average rating of "Moderate Buy" and an average price target of $32.43.

About QXO

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.

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