QXO, Inc. $QXO Shares Sold by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. lowered its stake in shares of QXO, Inc. (NYSE:QXO) by 79.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,677 shares of the company’s stock after selling 56,251 shares during the quarter. Cantor Fitzgerald L. P.’s holdings in QXO were worth $280,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QXO. Royal Bank of Canada lifted its position in QXO by 67.5% during the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after acquiring an additional 48,248 shares during the period. AQR Capital Management LLC acquired a new position in shares of QXO in the first quarter valued at approximately $615,000. Millennium Management LLC raised its stake in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of QXO during the second quarter worth $215,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Up 3.5%

NYSE:QXO opened at $20.18 on Monday. QXO, Inc. has a 1 year low of $11.97 and a 1 year high of $27.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The stock has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $21.04. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of -34.20, a PEG ratio of 3.22 and a beta of 2.51.

QXO (NYSE:QXO) last issued its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.19 billion. QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business’s quarterly revenue was up 14725.0% on a year-over-year basis. As a group, sell-side analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Truist Financial reduced their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, February 20th. William Blair reiterated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Oppenheimer increased their price target on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.