QXO, Inc. $QXO Holdings Raised by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC grew its stake in shares of QXO, Inc. (NYSE:QXO) by 137.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 802,800 shares of the company’s stock after acquiring an additional 464,400 shares during the period. QXO accounts for 1.1% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 25th biggest holding. Zweig DiMenna Associates LLC’s holdings in QXO were worth $15,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP boosted its position in QXO by 99.1% during the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after purchasing an additional 16,260,163 shares during the period. Alpha Wave Global LP acquired a new position in QXO in the 2nd quarter valued at $525,366,000. Schf GPE LLC boosted its stake in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the period. Finally, Hood River Capital Management LLC bought a new position in QXO during the second quarter worth $178,836,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Trading Up 4.5%

Shares of QXO opened at $27.07 on Tuesday. The stock’s fifty day simple moving average is $22.94 and its 200-day simple moving average is $20.59. The firm has a market capitalization of $18.26 billion, a PE ratio of -61.53, a price-to-earnings-growth ratio of 3.38 and a beta of 2.55. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $27.55. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QXO shares. William Blair reiterated an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Oppenheimer boosted their price target on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Citigroup dropped their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Vertical Research began coverage on QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Loop Capital initiated coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target for the company. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.43.

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.