Campbell & CO Investment Adviser LLC Invests $1.01 Million in QXO, Inc. $QXO

Key Points

• Campbell & CO Investment Adviser LLC bought a new stake of 52,791 QXO shares in Q3 (about $1.01M), and institutional investors now own 58.68% of the stock.
• QXO beat EPS estimates ($0.14 vs. $0.12) on $2.73B in revenue, while shares opened at $23.82 and were down 4.8%; the company trades with a negative P/E of -54.14 and a market cap of $16.06B.
• Analysts hold a consensus of "Moderate Buy" with an average price target of $32.43, and recent firm targets have ranged roughly from $27 to $33.

Campbell & CO Investment Adviser LLC acquired a new stake in shares of QXO, Inc. (NYSE:QXO - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 52,791 shares of the company's stock, valued at approximately $1,006,000.

Several other large investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company's stock worth $1,620,000 after acquiring an additional 48,248 shares during the period. AQR Capital Management LLC bought a new position in QXO in the first quarter worth approximately $615,000. Millennium Management LLC increased its holdings in QXO by 6.6% during the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company's stock worth $4,361,000 after purchasing an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in QXO by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company's stock valued at $9,449,000 after purchasing an additional 81,758 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in QXO by 275.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 241,787 shares of the company's stock worth $5,314,000 after acquiring an additional 177,464 shares during the period. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Down 4.8%

Shares of QXO opened at $23.82 on Tuesday. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $26.24. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $20.73 and a two-hundred day simple moving average of $20.26. The company has a market capitalization of $16.06 billion, a PE ratio of -54.14, a price-to-earnings-growth ratio of 2.78 and a beta of 2.44.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. The company's quarterly revenue was up 20726.7% compared to the same quarter last year. As a group, equities analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on QXO shares. Citigroup reduced their price objective on shares of QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of QXO in a research report on Monday, December 29th. William Blair restated an "outperform" rating on shares of QXO in a research note on Wednesday, December 31st. Loop Capital initiated coverage on shares of QXO in a report on Thursday, December 11th. They set a "buy" rating and a $31.00 target price for the company. Finally, Oppenheimer increased their price target on shares of QXO from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.

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