Baader Bank Aktiengesellschaft Has $6.41 Million Stock Holdings in QXO, Inc. $QXO

Key Points

• Baader Bank Aktiengesellschaft increased its QXO position by 43.5% in the first quarter, buying 100,000 additional shares and bringing its total to 330,000 shares worth about $6.41 million.
• Institutional ownership in QXO remains high, with 58.68% of the stock held by institutional investors and hedge funds, and several other firms also recently adding small positions.
• Analysts are mixed on QXO: the stock has a consensus rating of “Moderate Buy” with an average price target of $30.57, though some firms have cut targets or maintained sell ratings.

Baader Bank Aktiengesellschaft boosted its position in QXO, Inc. (NYSE:QXO - Free Report) by 43.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,000 shares of the company's stock after buying an additional 100,000 shares during the period. Baader Bank Aktiengesellschaft's holdings in QXO were worth $6,409,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arax Advisory Partners acquired a new stake in QXO in the fourth quarter valued at approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of QXO during the second quarter worth approximately $30,000. Root Financial Partners LLC raised its position in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock worth $29,000 after purchasing an additional 1,467 shares during the period. LRI Investments LLC lifted its holdings in shares of QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company's stock worth $29,000 after purchasing an additional 835 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings 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 worth $30,000 after purchasing an additional 575 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stephens decreased their price target on shares of QXO from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. Weiss Ratings reiterated a "sell (d)" rating on shares of QXO in a report on Friday, May 29th. Wall Street Zen upgraded shares of QXO from a "strong sell" rating to a "sell" rating in a report on Sunday, May 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $27.00 target price on shares of QXO in a research report on Friday, July 10th. Finally, KeyCorp lowered their target price on shares of QXO from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, QXO currently has an average rating of "Moderate Buy" and a consensus price target of $30.57.

QXO Price Performance

Shares of NYSE:QXO opened at $13.52 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.80 billion, a PE ratio of -14.85, a price-to-earnings-growth ratio of 3.69 and a beta of 2.23. The stock's fifty day simple moving average is $16.36 and its two-hundred day simple moving average is $20.17. QXO, Inc. has a 1-year low of $13.48 and a 1-year high of $27.61.

QXO (NYSE:QXO - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company's revenue for the quarter was up 12716.3% on a year-over-year basis. As a group, analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.