Gainplan LLC Has $5.23 Million Stake in QXO, Inc. (NASDAQ:QXO)

Gainplan LLC increased its stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 101.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 386,241 shares of the company's stock after acquiring an additional 194,961 shares during the period. QXO accounts for about 3.4% of Gainplan LLC's holdings, making the stock its 5th largest position. Gainplan LLC owned about 0.09% of QXO worth $5,230,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Advyzon Investment Management LLC bought a new position in QXO during the fourth quarter worth $527,000. Blair William & Co. IL acquired a new stake in QXO in the 4th quarter worth $229,000. Barclays PLC bought a new position in shares of QXO during the 4th quarter worth about $1,168,000. Pittenger & Anderson Inc. increased its holdings in shares of QXO by 4,376.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 20,145 shares of the company's stock worth $320,000 after purchasing an additional 19,695 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of QXO during the fourth quarter valued at about $2,099,000. Institutional investors own 58.68% of the company's stock.

QXO Trading Up 13.6%

QXO stock traded up $2.27 during midday trading on Friday, hitting $19.02. The stock had a trading volume of 15,789,844 shares, compared to its average volume of 2,957,558. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of -2.09, a P/E/G ratio of 4.09 and a beta of 2.38. QXO, Inc. has a 52 week low of $10.61 and a 52 week high of $290.00. The stock has a 50-day simple moving average of $14.70 and a 200 day simple moving average of $14.61.

Analyst Ratings Changes

Separately, Wolfe Research began coverage on QXO in a research report on Friday. They set an "outperform" rating and a $44.00 target price on the stock.

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.