QXO, Inc. $QXO Shares Sold by Advyzon Investment Management LLC

Advyzon Investment Management LLC lessened its stake in QXO, Inc. (NYSE:QXO) by 22.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,334 shares of the company’s stock after selling 7,864 shares during the quarter. Advyzon Investment Management LLC’s holdings in QXO were worth $589,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QXO. Cherry Creek Investment Advisors Inc. boosted its holdings in QXO by 48.5% in the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 69,780 shares of the company’s stock valued at $1,503,000 after purchasing an additional 22,800 shares during the period. Amundi raised its position in shares of QXO by 26.4% during the first quarter. Amundi now owns 715,087 shares of the company’s stock valued at $9,861,000 after buying an additional 149,504 shares during the last quarter. Brown Miller Wealth Management LLC bought a new stake in shares of QXO in the second quarter valued at about $592,000. Y Intercept Hong Kong Ltd grew its position in QXO by 530.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 376,483 shares of the company’s stock worth $8,109,000 after buying an additional 316,754 shares in the last quarter. Finally, Deltec Asset Management LLC increased its stake in QXO by 250.0% during the second quarter. Deltec Asset Management LLC now owns 35,000 shares of the company’s stock valued at $754,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley started coverage on QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. Stephens began coverage on QXO in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $29.00 target price for the company. Vertical Research started coverage on shares of QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target on the stock. KeyCorp set a $28.00 price objective on shares of QXO in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, QXO has a consensus rating of “Moderate Buy” and a consensus target price of $32.85.

QXO Stock Up 3.6%

Shares of QXO opened at $19.06 on Wednesday. The business’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $19.29. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of -90.76, a PEG ratio of 2.58 and a beta of 2.26. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $24.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00.

QXO (NYSE:QXO) last released its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO’s revenue was up 20726.7% on a year-over-year basis. On average, analysts predict that QXO, Inc. will post -0.13 earnings per share for the current year.

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.