QXO, Inc. $QXO Holdings Lifted by Sycale Advisors NY LLC

Key Points

• Sycale Advisors NY LLC increased its stake in QXO by 113.6% in Q1, buying 332,757 additional shares and bringing its total to 625,757 shares valued at about $12.15 million.
• QXO reported a larger-than-expected quarterly loss of $0.12 per share, though revenue of $1.73 billion matched analyst estimates and jumped sharply year over year.
• Wall Street sentiment is mixed but generally positive: QXO has a Moderate Buy consensus with an average price target of $30.57, despite recent target cuts and some sell ratings.

Sycale Advisors NY LLC lifted its position in shares of QXO, Inc. (NYSE:QXO - Free Report) by 113.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 625,757 shares of the company's stock after buying an additional 332,757 shares during the quarter. QXO makes up 6.1% of Sycale Advisors NY LLC's investment portfolio, making the stock its 10th largest position. Sycale Advisors NY LLC owned about 0.09% of QXO worth $12,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. grew its stake in QXO by 6.8% in the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company's stock worth $122,000 after acquiring an additional 400 shares during the period. Cherry Creek Investment Advisors Inc. lifted its stake in shares of QXO by 0.6% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company's stock worth $1,633,000 after purchasing an additional 474 shares during the period. NewEdge Advisors LLC boosted 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 worth $32,000 after purchasing an additional 500 shares during the last quarter. Maple Capital Management Inc. boosted its holdings 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 worth $231,000 after purchasing an additional 543 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of QXO by 27.2% during the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company's stock worth $50,000 after purchasing an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Stock Performance

Shares of QXO stock opened at $13.88 on Thursday. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a market cap of $10.07 billion, a PE ratio of -15.26, a P/E/G ratio of 3.57 and a beta of 2.23. The company's fifty day simple moving average is $16.22 and its 200-day simple moving average is $20.10. QXO, Inc. has a 52 week low of $13.37 and a 52 week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings results 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 positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.73 billion. The firm's revenue for the quarter was up 12716.3% on a year-over-year basis. As a group, equities research analysts anticipate that QXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

QXO has been the subject of several analyst reports. Citigroup dropped their target price on QXO from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Zacks Research downgraded QXO from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of QXO in a research note on Friday, July 10th. Stephens decreased 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. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of QXO in a report on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, QXO presently has a consensus rating of "Moderate Buy" and an average price target of $30.57.

About QXO

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.