Deltec Asset Management LLC Sells 32,000 Shares of QXO, Inc. (NASDAQ:QXO)

Deltec Asset Management LLC trimmed its position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 76.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the company's stock after selling 32,000 shares during the period. Deltec Asset Management LLC's holdings in QXO were worth $135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its position in QXO by 62.2% during the 1st quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock valued at $157,000 after acquiring an additional 4,439 shares during the period. Toronto Dominion Bank purchased a new position in QXO during the fourth quarter valued at $159,000. Invesco Ltd. bought a new stake in QXO in the fourth quarter worth $164,000. Provident Wealth Management LLC purchased a new stake in shares of QXO in the fourth quarter worth $198,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of QXO during the first quarter valued at $200,000. Institutional investors own 58.68% of the company's stock.

Analyst Upgrades and Downgrades

QXO has been the subject of several recent analyst reports. Oppenheimer assumed coverage on shares of QXO in a report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 target price for the company. William Blair initiated coverage on QXO in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird started coverage on QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price target for the company. Baird R W raised QXO to a "strong-buy" rating in a report on Thursday, June 12th. Finally, Wolfe Research began coverage on QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, QXO currently has a consensus rating of "Buy" and a consensus price target of $34.33.

QXO Price Performance

Shares of QXO stock traded down $0.61 during trading on Tuesday, reaching $23.52. 6,788,084 shares of the stock traded hands, compared to its average volume of 3,362,272. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $157.28. The business has a fifty day simple moving average of $16.47 and a two-hundred day simple moving average of $14.92. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of -2.58, a P/E/G ratio of 4.09 and a beta of 2.38.

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.