Y Intercept Hong Kong Ltd Invests $14.47 Million in QXO, Inc. $QXO

Y Intercept Hong Kong Ltd acquired a new position in shares of QXO, Inc. (NYSE:QXO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 750,291 shares of the company’s stock, valued at approximately $14,473,000. Y Intercept Hong Kong Ltd owned about 0.11% of QXO as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Finepoint Capital LP boosted its holdings in shares of QXO by 5.4% during the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. Schf GPE LLC boosted its holdings in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, MTCO Ltd. acquired a new stake in shares of QXO during the third quarter worth $208,534,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Up 0.1%

Shares of QXO stock opened at $16.60 on Friday. The business has a 50-day moving average of $18.85 and a 200-day moving average of $20.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The company has a market capitalization of $12.04 billion, a PE ratio of -18.25, a P/E/G ratio of 4.25 and a beta of 2.30. QXO, Inc. has a 1-year low of $14.75 and a 1-year high of $27.61.

QXO (NYSE:QXO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business’s revenue was up 12716.3% compared to the same quarter last year. As a group, equities analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Benchmark restated a “buy” rating on shares of QXO in a report on Friday, February 20th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Royal Bank Of Canada cut their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

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.