Gainplan LLC Has $2.72 Million Position in QXO, Inc. $QXO

Key Points

• Gainplan LLC reduced its stake in QXO, Inc. by 67.3%, owning 126,222 shares after selling 260,019 during the second quarter, with its holdings valued at approximately $2.72 million.
• QXO has a market capitalization of $13.14 billion and is currently rated as a "Moderate Buy" by analysts, with an average price target of $33.25.
• Institutional investors own 58.68% of QXO stock, indicating strong interest from larger investment entities in this company.

Gainplan LLC reduced its position in shares of QXO, Inc. (NYSE:QXO - Free Report) by 67.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 126,222 shares of the company's stock after selling 260,019 shares during the quarter. QXO comprises 1.2% of Gainplan LLC's holdings, making the stock its 10th biggest position. Gainplan LLC's holdings in QXO were worth $2,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QXO. Farther Finance Advisors LLC bought a new stake in shares of QXO in the 2nd quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in shares of QXO in the 1st quarter valued at about $26,000. CWM LLC bought a new stake in shares of QXO in the 1st quarter valued at about $27,000. Ridgewood Investments LLC bought a new stake in shares of QXO in the 1st quarter valued at about $27,000. Finally, First Horizon Advisors Inc. increased its stake in shares of QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock valued at $38,000 after acquiring an additional 1,017 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Price Performance

Shares of QXO opened at $19.52 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The stock has a 50 day simple moving average of $20.22 and a 200 day simple moving average of $18.37. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The firm has a market capitalization of $13.14 billion, a PE ratio of -92.92, a P/E/G ratio of 2.65 and a beta of 2.25.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on QXO in a research note on Monday, July 21st. They issued an "outperform" rating and a $33.00 price target for the company. Robert W. Baird began 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. Citigroup began coverage on QXO in a research report on Wednesday, July 16th. They issued a "buy" rating and a $33.00 price objective for the company. Oppenheimer began coverage on QXO in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price objective for the company. Finally, Raymond James Financial began coverage on QXO in a research report on Friday, September 5th. They issued an "outperform" rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

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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