SG Americas Securities LLC Raises Stock Position in QXO, Inc. (NASDAQ:QXO)

SG Americas Securities LLC lifted its holdings in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 478.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,193 shares of the company's stock after buying an additional 45,649 shares during the quarter. SG Americas Securities LLC's holdings in QXO were worth $747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of QXO by 337.5% during the 4th quarter. Rhumbline Advisers now owns 21,000 shares of the company's stock worth $334,000 after purchasing an additional 16,200 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in QXO during the 4th quarter worth approximately $2,099,000. Truist Financial Corp raised its holdings in shares of QXO by 20.0% during the fourth quarter. Truist Financial Corp now owns 85,900 shares of the company's stock valued at $1,366,000 after acquiring an additional 14,297 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of QXO by 685.6% in the fourth quarter. Bank of New York Mellon Corp now owns 450,467 shares of the company's stock worth $7,162,000 after acquiring an additional 393,126 shares during the last quarter. Finally, Canton Hathaway LLC increased its position in shares of QXO by 671.4% during the fourth quarter. Canton Hathaway LLC now owns 140,387 shares of the company's stock worth $2,232,000 after purchasing an additional 122,187 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Trading Down 2.5%

QXO stock traded down $0.61 during midday trading on Tuesday, hitting $23.52. 6,788,084 shares of the company's stock were exchanged, compared to its average volume of 3,361,905. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $157.28. The stock has a market capitalization of $13.60 billion, a PE ratio of -2.58, a P/E/G ratio of 4.09 and a beta of 2.38. The business has a 50-day simple moving average of $16.47 and a two-hundred day simple moving average of $14.92.

Analyst Upgrades and Downgrades

QXO has been the topic of several research reports. Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target on the stock. William Blair initiated coverage on QXO in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird assumed coverage on shares of QXO in a research report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price target on the stock. Wolfe Research began coverage on shares of QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 price objective for the company. Finally, Baird R W raised shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QXO presently has a consensus rating of "Buy" and a consensus price target of $34.33.

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.