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Catawba River Capital Invests $6.64 Million in QXO, Inc. (NASDAQ:QXO)

QXO logo with Business Services background

Catawba River Capital bought a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 490,052 shares of the company's stock, valued at approximately $6,635,000. QXO comprises about 4.0% of Catawba River Capital's portfolio, making the stock its 11th biggest holding. Catawba River Capital owned about 0.11% of QXO as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QXO. First Horizon Advisors Inc. boosted its stake in QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock valued at $38,000 after purchasing an additional 1,017 shares during the period. Wellington Shields & Co. LLC raised its holdings in shares of QXO by 2.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 75,000 shares of the company's stock worth $1,192,000 after buying an additional 1,500 shares in the last quarter. Tilia Fiduciary Partners Inc. increased its holdings in QXO by 16.1% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 18,790 shares of the company's stock worth $254,000 after purchasing an additional 2,609 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in QXO by 23.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 15,908 shares of the company's stock worth $253,000 after purchasing an additional 3,050 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in QXO by 12.9% in the 4th quarter. Nebula Research & Development LLC now owns 26,912 shares of the company's stock worth $428,000 after purchasing an additional 3,076 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Performance

NASDAQ:QXO traded up $0.36 during trading hours on Friday, reaching $21.95. The stock had a trading volume of 6,105,852 shares, compared to its average volume of 4,029,602. The stock has a 50 day simple moving average of $18.02 and a 200 day simple moving average of $15.27. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $157.28. The stock has a market cap of $12.74 billion, a P/E ratio of -2.41, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Oppenheimer initiated coverage on QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target for the company. Wolfe Research assumed coverage on QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 price target on the stock. Robert W. Baird assumed coverage on QXO in a report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 target price on the stock. William Blair started coverage on QXO in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Finally, Baird R W raised QXO to a "strong-buy" rating in a research report on Thursday, June 12th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $33.25.

Read Our Latest Analysis on QXO

About QXO

(Free Report)

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.

See Also

Institutional Ownership by Quarter for QXO (NASDAQ:QXO)

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