Cherry Creek Investment Advisors Inc. increased its stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 57.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,980 shares of the company's stock after acquiring an additional 17,159 shares during the quarter. Cherry Creek Investment Advisors Inc.'s holdings in QXO were worth $636,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Praxis Investment Management Inc. purchased a new position in QXO in the first quarter worth $156,000. Parallel Advisors LLC boosted its position in shares of QXO by 62.2% in the first quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock worth $157,000 after acquiring an additional 4,439 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of QXO in the 4th quarter valued at about $159,000. Invesco Ltd. acquired a new position in shares of QXO in the 4th quarter valued at about $164,000. Finally, Provident Wealth Management LLC purchased a new stake in shares of QXO during the 4th quarter worth about $198,000. 58.68% of the stock is owned by hedge funds and other institutional investors.
QXO Trading Down 7.0%
Shares of QXO traded down $1.63 during mid-day trading on Wednesday, hitting $21.88. 43,074,538 shares of the company traded hands, compared to its average volume of 3,547,908. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 4.09 and a beta of 2.38. The business has a 50-day moving average of $16.65 and a 200 day moving average of $14.98. QXO, Inc. has a one year low of $10.61 and a one year high of $157.28.
Analyst Ratings Changes
QXO has been the subject of several analyst reports. Robert W. Baird assumed coverage on shares of QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 target price for the company. Baird R W raised QXO to a "strong-buy" rating in a report on Thursday, June 12th. Oppenheimer assumed coverage on QXO in a research report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 target price on the stock. William Blair assumed coverage on QXO in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Finally, Wolfe Research assumed coverage on shares of QXO in a research note on Friday, June 6th. They set an "outperform" rating and a $44.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $34.33.
Read Our Latest Stock Analysis on QXO
QXO Company Profile
(
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.
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