Corrado Advisors LLC Takes Position in QXO, Inc. (NASDAQ:QXO)

Corrado Advisors LLC bought a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 84,857 shares of the company's stock, valued at approximately $1,149,000.

Other hedge funds have also recently modified their holdings of the company. CWM LLC bought a new stake in shares of QXO during the 1st quarter valued at $27,000. 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 worth $38,000 after purchasing an additional 1,017 shares in the last quarter. Bessemer Group Inc. bought a new position in QXO in the 1st quarter worth about $52,000. Toronto Dominion Bank bought a new position in QXO in the 4th quarter worth about $159,000. Finally, Invesco Ltd. bought a new position in QXO in the 4th quarter worth about $164,000. Institutional investors own 58.68% of the company's stock.

QXO Stock Up 3.0%

QXO traded up $0.64 during midday trading on Thursday, hitting $21.83. 6,242,406 shares of the company traded hands, compared to its average volume of 4,231,261. The firm has a market capitalization of $12.67 billion, a PE ratio of -2.39, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41. The company's 50-day moving average is $19.45 and its 200 day moving average is $15.64. QXO, Inc. has a 52 week low of $10.61 and a 52 week high of $157.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QXO. Robert W. Baird began coverage on shares of QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price target on the stock. Wolfe Research began coverage on shares of QXO in a research note on Friday, June 6th. They issued an "outperform" rating and a $44.00 price target on the stock. Oppenheimer began coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target on the stock. Truist Financial began coverage on shares of QXO in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target on the stock. Finally, William Blair began coverage on shares of QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QXO has an average rating of "Buy" and an average target price of $33.20.

QXO 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.