Townsquare Capital LLC Purchases 14,455 Shares of QXO, Inc. $QXO

Key Points

• Townsquare Capital LLC increased its stake in QXO, Inc. by 85.6% in Q1, purchasing an additional 14,455 shares, bringing its total ownership to 31,349 shares valued at $424,000.
• QXO currently has a market cap of $11.90 billion and a consensus rating of "Buy" from nine investment analysts, with an average price target of $32.25.
• The stock has recently experienced a 2.4% decline, trading at $20.51, while its 12-month range is between $11.16 and $24.69.

Townsquare Capital LLC increased its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 85.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,349 shares of the company's stock after buying an additional 14,455 shares during the quarter. Townsquare Capital LLC's holdings in QXO were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QXO. Larson Financial Group LLC purchased a new position in QXO in the 1st quarter worth approximately $26,000. CWM LLC purchased a new position in QXO in the 1st quarter worth approximately $27,000. Ridgewood Investments LLC purchased a new position in QXO in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. increased its stake in QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after purchasing an additional 1,017 shares during the period. Finally, Signaturefd LLC increased its stake in QXO by 533.6% in the 1st quarter. Signaturefd LLC now owns 3,168 shares of the company's stock worth $43,000 after purchasing an additional 2,668 shares during the period. Institutional investors own 58.68% of the company's stock.

QXO Trading Down 2.4%

QXO opened at $20.51 on Monday. The stock has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $16.53. The company has a market cap of $11.90 billion, a price-to-earnings ratio of -2.25, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34. QXO, Inc. has a 12-month low of $11.16 and a 12-month high of $24.69.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair assumed coverage on QXO in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird assumed coverage on QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 target price on the stock. Wolfe Research assumed coverage on QXO in a research note on Friday, June 6th. They set an "outperform" rating and a $44.00 target price on the stock. Baird R W raised QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Finally, Truist Financial assumed coverage on QXO in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $32.25.

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.

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