QXO, Inc. $QXO Position Increased by Affinity Partners GP LP

Affinity Partners GP LP increased its position in shares of QXO, Inc. (NYSE:QXO) by 99.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,671,542 shares of the company’s stock after purchasing an additional 16,260,163 shares during the period. QXO makes up approximately 100.0% of Affinity Partners GP LP’s portfolio, making the stock its largest position. Affinity Partners GP LP owned about 5.63% of QXO worth $703,745,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in QXO during the 2nd quarter worth approximately $25,000. American Capital Advisory LLC grew its holdings in QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares during the period. Allworth Financial LP grew its holdings in 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. purchased a new position in QXO in the second quarter worth $28,000. Finally, Russell Investments Group Ltd. acquired a new stake in QXO in the second quarter valued at $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QXO. Raymond James Financial started coverage on shares of QXO in a research note on Friday, September 5th. They set an “outperform” rating and a $28.00 price target on the stock. KeyCorp set a $28.00 price objective on shares of QXO in a report on Wednesday, October 1st. Vertical Research began coverage on shares of QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 target price for the company. Benchmark raised QXO to a “strong-buy” rating in a research note on Monday, August 25th. Finally, Morgan Stanley started coverage on QXO in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.71.

QXO Price Performance

Shares of NYSE:QXO opened at $22.12 on Friday. The business’s fifty day moving average price is $18.60 and its two-hundred day moving average price is $19.79. The stock has a market cap of $14.92 billion, a PE ratio of -50.27, a price-to-earnings-growth ratio of 3.31 and a beta of 2.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69.

QXO (NYSE:QXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. QXO’s revenue for the quarter was up 20726.7% on a year-over-year basis. On average, analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal 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.