QXO, Inc. $QXO Shares Sold by X Square Capital LLC

X Square Capital LLC reduced its position in QXO, Inc. (NYSE:QXO) by 45.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,907 shares of the company’s stock after selling 62,334 shares during the quarter. X Square Capital LLC’s holdings in QXO were worth $1,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC increased its stake in QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after buying an additional 841 shares during the period. Bogart Wealth LLC acquired a new position in shares of QXO in the third quarter worth $25,000. Allworth Financial LP increased its position in shares of QXO by 1,740.9% during 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 period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the second quarter valued at $28,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO in the second quarter valued at $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Down 2.6%

Shares of QXO opened at $25.54 on Monday. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $27.61. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $17.23 billion, a P/E ratio of -58.04, a PEG ratio of 3.19 and a beta of 2.55. The firm’s 50-day moving average is $23.32 and its two-hundred day moving average is $20.78.

Analyst Upgrades and Downgrades

QXO has been the subject of several analyst reports. Loop Capital started coverage on QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. Citigroup decreased their price objective 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. Benchmark restated a “buy” rating on shares of QXO in a research report on Friday. Oppenheimer increased their price target on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Finally, Truist Financial dropped their price objective on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.43.

QXO 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.