Deltec Asset Management LLC Grows Stock Position in QXO, Inc. $QXO

Key Points

• Deltec Asset Management LLC increased its stake in QXO, Inc. by 250.0% during Q2, now owning 35,000 shares worth approximately $754,000.
• Hedge funds collectively hold 58.68% of QXO's stock, with notable increases in holdings by firms such as SG Americas Securities LLC and Gainplan LLC.
• Analysts have given QXO a consensus rating of Buy, with three firms rating it as a Strong Buy and a price target ranging from $27.00 to $44.00.

Deltec Asset Management LLC grew its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 250.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company's stock after acquiring an additional 25,000 shares during the quarter. Deltec Asset Management LLC's holdings in QXO were worth $754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QXO. California State Teachers Retirement System acquired a new stake in shares of QXO in the fourth quarter valued at approximately $4,769,000. Parallel Advisors LLC increased its holdings in shares of QXO by 62.2% in the first quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock valued at $157,000 after purchasing an additional 4,439 shares during the last quarter. Gainplan LLC increased its holdings in shares of QXO by 101.9% in the first quarter. Gainplan LLC now owns 386,241 shares of the company's stock valued at $5,230,000 after purchasing an additional 194,961 shares during the last quarter. Tilia Fiduciary Partners Inc. increased its holdings in shares of QXO by 16.1% in the first quarter. Tilia Fiduciary Partners Inc. now owns 18,790 shares of the company's stock valued at $254,000 after purchasing an additional 2,609 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of QXO by 478.3% in the first quarter. SG Americas Securities LLC now owns 55,193 shares of the company's stock valued at $747,000 after purchasing an additional 45,649 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on QXO. Morgan Stanley began coverage on QXO in a report on Tuesday, September 2nd. They issued an "overweight" rating and a $35.00 price target for the company. Benchmark upgraded QXO to a "strong-buy" rating in a report on Monday, August 25th. Wolfe Research initiated coverage on QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price for the company. Zacks Research downgraded QXO from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Finally, Oppenheimer initiated 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. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, QXO currently has a consensus rating of "Buy" and a consensus price target of $33.25.

QXO Price Performance

QXO opened at $19.06 on Wednesday. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The stock's 50 day simple moving average is $20.44 and its 200 day simple moving average is $18.14. The stock has a market cap of $12.83 billion, a P/E ratio of -2.09, a P/E/G ratio of 4.09 and a beta of 2.35.

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.

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