Deltec Asset Management LLC Reduces Stock Holdings in QXO, Inc. $QXO

Key Points

• Deltec Asset Management cut its stake in QXO by 61.1%, selling 81,939 shares and leaving it with 52,161 shares valued at about $1.01 million at quarter-end.
• Analyst sentiment is largely positive with a consensus rating of "Moderate Buy" and an average price target of $32.40 (one Strong Buy, fifteen Buy, one Hold, one Sell).
• QXO reported an EPS miss for the quarter ($0.02 vs. $0.03 expected), has a negative PE (-35.55) despite an extraordinary reported revenue increase of 14,725% YoY, and a market cap of about $14.9 billion.

Deltec Asset Management LLC reduced its stake in shares of QXO, Inc. (NYSE:QXO - Free Report) by 61.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,161 shares of the company's stock after selling 81,939 shares during the period. Deltec Asset Management LLC's holdings in QXO were worth $1,006,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QXO. Bogart Wealth LLC purchased a new position in shares of QXO during the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its position in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company's stock valued at $30,000 after buying an additional 575 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of QXO during the 2nd quarter valued at about $30,000. GAMMA Investing LLC purchased a new position in shares of QXO during the 3rd quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new position in shares of QXO during the 3rd quarter valued at about $35,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on QXO shares. William Blair reaffirmed an "outperform" rating on shares of QXO in a research report on Wednesday, December 31st. BNP Paribas Exane started coverage on QXO in a research report on Monday, March 16th. They set an "outperform" rating and a $30.00 price objective on the stock. Benchmark reaffirmed a "buy" rating on shares of QXO in a research report on Friday, February 20th. Wall Street Zen cut QXO from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Finally, Oppenheimer lifted their price objective on QXO from $27.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.40.

QXO Stock Up 0.0%

Shares of QXO opened at $20.98 on Monday. The business's 50 day moving average is $21.93 and its 200 day moving average is $21.14. The company has a market capitalization of $14.89 billion, a PE ratio of -35.55, a price-to-earnings-growth ratio of 3.28 and a beta of 2.50. QXO, Inc. has a 12-month low of $12.50 and a 12-month high of $27.61. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO - Get Free Report) last issued its earnings results on Friday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO's quarterly revenue was up 14725.0% on a year-over-year basis. Research analysts expect that QXO, Inc. will post 0.32 earnings per share for the current fiscal year.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.

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