Jefferies Financial Group Inc. Buys Shares of 18,500 QXO, Inc. (NASDAQ:QXO)

Key Points

• Jefferies Financial Group Inc. has purchased 18,500 shares of QXO, Inc. valued at approximately $250,000, marking a significant new investment in the company.
• Various institutional investors are also increasing their stakes, with 58.68% of QXO's stock now owned by these entities, indicating strong institutional interest.
• Research analysts have given QXO a consensus rating of "Buy" with an average price target of $32.71, signaling positive future expectations for the stock.

Jefferies Financial Group Inc. purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,500 shares of the company's stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of QXO during the first quarter valued at approximately $26,000. CWM LLC bought a new stake in shares of QXO during the first quarter valued at approximately $27,000. Ridgewood Investments LLC bought a new position in QXO in the first quarter worth approximately $27,000. First Horizon Advisors Inc. raised its stake in QXO by 57.4% in the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after buying an additional 1,017 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of QXO by 533.6% during the first quarter. Signaturefd LLC now owns 3,168 shares of the company's stock worth $43,000 after purchasing an additional 2,668 shares in the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Price Performance

QXO stock traded up $0.96 on Wednesday, hitting $20.92. 2,424,999 shares of the company were exchanged, compared to its average volume of 5,699,597. QXO, Inc. has a twelve month low of $10.62 and a twelve month high of $24.69. The business's fifty day moving average is $20.92 and its two-hundred day moving average is $16.35. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of -2.29, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QXO shares. Wolfe Research began coverage on shares of QXO in a report on Friday, June 6th. They set an "outperform" rating and a $44.00 price objective on the stock. Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They set an "outperform" rating and a $27.00 target price on the stock. Truist Financial started coverage on shares of QXO in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target for the company. Robert W. Baird started coverage on shares of QXO in a report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, William Blair started coverage on shares of QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $32.25.

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.