Capital Fund Management S.A. Takes $2.35 Million Position in QXO, Inc. $QXO

Key Points

• Capital Fund Management S.A. has acquired a new stake in QXO, Inc. by purchasing 173,159 shares valued at approximately $2,345,000 during the first quarter.
• Several hedge funds, including Larson Financial Group LLC and Ridgewood Investments LLC, have also established new positions in QXO, increasing institutional ownership to 58.68%.
• Wall Street analysts have a generally positive outlook on QXO, with a consensus average rating of “Buy” and a price target of $34.22.

Capital Fund Management S.A. bought a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 173,159 shares of the company's stock, valued at approximately $2,345,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. boosted its position in QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after acquiring an additional 1,017 shares during the last quarter. Larson Financial Group LLC acquired a new position in QXO during the first quarter worth about $26,000. Lewis Asset Management LLC boosted its position in QXO by 18.3% during the first quarter. Lewis Asset Management LLC now owns 12,900 shares of the company's stock worth $175,000 after acquiring an additional 2,000 shares during the last quarter. Ridgewood Investments LLC acquired a new position in QXO in the 1st quarter valued at about $27,000. Finally, CWM LLC acquired a new position in QXO in the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on QXO. Baird R W upgraded shares of QXO to a "strong-buy" rating in a report on Thursday, June 12th. Oppenheimer began coverage on shares of QXO in a report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 target price on the stock. Stephens began coverage on shares of QXO in a report on Wednesday, August 13th. They issued an "overweight" rating and a $29.00 target price on the stock. Citigroup began coverage on shares of QXO in a report on Wednesday, July 16th. They issued a "buy" rating and a $33.00 target price on the stock. Finally, Zacks Research upgraded shares of QXO from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $34.22.

QXO Trading Up 0.6%

QXO traded up $0.14 during trading hours on Thursday, hitting $21.04. 4,389,086 shares of the company's stock were exchanged, compared to its average volume of 5,937,221. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $24.69. The firm has a 50 day moving average of $21.10 and a 200 day moving average of $16.85. The firm has a market cap of $14.17 billion, a P/E ratio of -2.31, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34.

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.