QXO, Inc. $QXO Shares Purchased by Cladis Investment Advisory LLC

Key Points

• Cladis Investment Advisory boosted its stake in QXO by 646.2% in Q3, adding 67,850 shares to hold 78,350 shares valued at about $1.49 million, and institutional investors now own roughly 58.7% of the company.
• QXO shares opened at $21.86 and were down 4.4%; the company reported quarterly EPS of $0.02 (missing the $0.03 consensus) on $2.19 billion of revenue, with a negative net margin and analysts forecasting -$0.13 EPS for the year.
• Analyst sentiment is generally positive: the consensus rating is a Moderate Buy with an average price target of $32.43, though several firms have recently trimmed their targets.

Cladis Investment Advisory LLC boosted its stake in QXO, Inc. (NYSE:QXO - Free Report) by 646.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,350 shares of the company's stock after buying an additional 67,850 shares during the quarter. Cladis Investment Advisory LLC's holdings in QXO were worth $1,493,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QXO. Bogart Wealth LLC acquired a new position in shares of QXO during the third quarter valued at approximately $25,000. Allworth Financial LP boosted its stake in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company's stock worth $26,000 after acquiring an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of QXO during the second quarter worth approximately $28,000. Russell Investments Group Ltd. purchased a new stake in shares of QXO during the second quarter worth approximately $30,000. Finally, GAMMA Investing LLC acquired a new position in QXO in the 3rd quarter valued at $31,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Down 4.4%

Shares of NYSE:QXO opened at $21.86 on Friday. The company has a quick ratio of 2.24, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $23.71 and a two-hundred day moving average of $21.01. The stock has a market cap of $15.49 billion, a P/E ratio of -37.05, a PEG ratio of 2.97 and a beta of 2.51. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion. QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The firm's revenue was up 14725.0% on a year-over-year basis. On average, research analysts expect that QXO, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QXO shares. Truist Financial decreased their price objective on QXO from $28.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, December 19th. Citigroup reduced their target price on shares of QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Wall Street Zen downgraded shares of QXO from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a research report on Friday, January 9th. Finally, Benchmark reaffirmed a "buy" rating on shares of QXO in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.43.

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. 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.

Want to see what other hedge funds are holding QXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QXO, Inc. (NYSE:QXO - Free Report).

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.