Deltec Asset Management LLC Trims Position in QXO, Inc. (NASDAQ:QXO)

Deltec Asset Management LLC lessened its stake in QXO, Inc. (NASDAQ:QXO - Free Report) by 76.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Affinity Partners GP LP purchased a new position in shares of QXO during the 4th quarter valued at approximately $260,941,000. Federated Hermes Inc. purchased a new position in QXO during the fourth quarter valued at $50,532,000. Vanguard Group Inc. grew its position in shares of QXO by 24.6% in the fourth quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company's stock valued at $159,634,000 after purchasing an additional 1,979,147 shares during the period. JPMorgan Chase & Co. increased its stake in shares of QXO by 523.9% during the fourth quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company's stock worth $13,959,000 after purchasing an additional 737,192 shares in the last quarter. Finally, Swiss National Bank purchased a new position in shares of QXO in the fourth quarter worth about $10,884,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Price Performance

Shares of NASDAQ QXO traded up $1.20 during midday trading on Friday, hitting $23.70. 18,739,084 shares of the company's stock were exchanged, compared to its average volume of 3,331,294. The firm's fifty day simple moving average is $16.27 and its 200-day simple moving average is $14.88. The company has a market cap of $13.70 billion, a PE ratio of -2.60, a P/E/G ratio of 4.09 and a beta of 2.38. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $157.28.

Analyst Ratings Changes

Several brokerages recently issued reports on QXO. William Blair assumed coverage on shares of QXO in a research note on Wednesday. They set an "outperform" rating for the company. 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 price target for the company. Oppenheimer initiated coverage on shares of QXO in a report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price target for the company. Baird R W upgraded shares of QXO to a "strong-buy" rating in a report on Thursday, June 12th. Finally, Wolfe Research started coverage on shares of QXO in a research report on Friday, June 6th. They set 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $34.33.

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.