Pacer Advisors Inc. Purchases Shares of 482,535 QXO, Inc. (NASDAQ:QXO)

Key Points

• Pacer Advisors Inc. has acquired a new position in QXO, Inc., purchasing 482,535 shares valued at approximately $6.53 million, representing about 0.11% of the company's total shares.
• Multiple institutional investors have also increased their stakes in QXO, resulting in these investors collectively owning 58.68% of the company's stock.
• QXO currently has a market cap of $12.87 billion and has been rated positively by several analysts, with a consensus price target of $33.17.

Pacer Advisors Inc. acquired a new position in QXO, Inc. (NASDAQ:QXO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 482,535 shares of the company's stock, valued at approximately $6,534,000. Pacer Advisors Inc. owned 0.11% of QXO as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of QXO during the 1st quarter valued at $26,000. CWM LLC bought a new stake in QXO during the first quarter valued at about $27,000. First Horizon Advisors Inc. increased its position 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. Signaturefd LLC raised its stake in shares of QXO by 533.6% in the first quarter. Signaturefd LLC now owns 3,168 shares of the company's stock worth $43,000 after buying an additional 2,668 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of QXO during the 1st quarter valued at about $52,000. 58.68% of the stock is currently owned by institutional investors.

QXO Price Performance

Shares of QXO traded down $0.48 during mid-day trading on Thursday, reaching $20.16. The company's stock had a trading volume of 2,123,941 shares, compared to its average volume of 5,675,078. The company's 50 day moving average is $20.44 and its 200 day moving average is $16.01. The stock has a market cap of $11.70 billion, a PE ratio of -2.21, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $24.69.

Analyst Ratings Changes

A number of equities research analysts have commented on QXO shares. Citigroup started coverage on QXO in a report on Wednesday, July 16th. They set a "buy" rating and a $33.00 price target on the stock. Wolfe Research initiated coverage on shares of QXO in a report on Friday, June 6th. They set an "outperform" rating and a $44.00 price objective for the company. William Blair started coverage on QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Royal Bank Of Canada began coverage on shares of QXO in a research report on Monday, July 21st. They issued an "outperform" rating and a $33.00 price target on the stock. Finally, Robert W. Baird began coverage on QXO in a research report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $33.17.

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.