Hudson Value Partners LLC Purchases 100,856 Shares of QXO, Inc. $QXO

Key Points

• Hudson Value Partners increased its QXO stake by 87.6% in the second quarter, purchasing 100,856 additional shares and bringing its total holdings to 215,998 shares valued at approximately $3.73 million.
• Institutional investors own 58.68% of QXO, while analyst sentiment remains broadly positive with a “Moderate Buy” consensus and an average price target of $29.71.
• QXO shares opened at $15.54, near the 50-day average and well below the 52-week high of $27.61. The company missed quarterly EPS estimates, reporting a $0.12 loss per share, although revenue reached $1.73 billion.

Hudson Value Partners LLC boosted its position in shares of QXO, Inc. (NYSE:QXO - Free Report) by 87.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 215,998 shares of the company's stock after purchasing an additional 100,856 shares during the quarter. Hudson Value Partners LLC's holdings in QXO were worth $3,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its stake in shares of QXO by 6.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company's stock worth $122,000 after buying an additional 400 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company's stock valued at $32,000 after buying an additional 500 shares during the last quarter. Maple Capital Management Inc. increased its position in shares of QXO by 4.7% during the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company's stock valued at $231,000 after acquiring an additional 543 shares in the last quarter. Allworth Financial LP increased its position in shares of QXO by 27.2% during the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company's stock valued at $50,000 after acquiring an additional 552 shares in the last quarter. Finally, Red Door Wealth Management LLC increased its position in shares of QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company's stock valued at $310,000 after acquiring an additional 600 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley began coverage on QXO in a research report on Tuesday, August 4th. They issued an "overweight" rating and a $35.00 price objective on the stock. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. Zacks Research raised QXO from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Oppenheimer boosted their price target on QXO from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of QXO in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, QXO currently has an average rating of "Moderate Buy" and an average price target of $29.71.

QXO Stock Performance

Shares of QXO stock opened at $15.54 on Wednesday. The company has a 50 day moving average price of $15.56 and a 200-day moving average price of $19.17. QXO, Inc. has a 52 week low of $13.18 and a 52 week high of $27.61. The firm has a market capitalization of $16.12 billion, a PE ratio of -17.08, a P/E/G ratio of 2.59 and a beta of 2.28. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. The business's revenue for the quarter was up 12716.3% compared to the same quarter last year. As a group, equities research analysts expect that QXO, Inc. will post 0.3 earnings per share for the current year.

QXO Company 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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