QXO, Inc. $QXO Stock Holdings Lessened by Atika Capital Management LLC

Atika Capital Management LLC reduced its stake in shares of QXO, Inc. (NYSE:QXO) by 37.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264,253 shares of the company’s stock after selling 155,747 shares during the quarter. Atika Capital Management LLC’s holdings in QXO were worth $5,132,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QXO. Sunbelt Securities Inc. lifted its position in QXO by 6.8% in the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after buying an additional 400 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its holdings in shares of QXO by 0.6% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after acquiring an additional 474 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Maple Capital Management Inc. increased its stake in shares of QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after acquiring an additional 543 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after acquiring an additional 552 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Price Performance

Shares of NYSE:QXO opened at $13.84 on Friday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of -15.20, a PEG ratio of 3.55 and a beta of 2.23. The business has a 50 day moving average price of $16.14 and a 200 day moving average price of $20.06. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. QXO, Inc. has a twelve month low of $13.37 and a twelve month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. Research analysts predict that QXO, Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

QXO has been the topic of several research reports. KeyCorp dropped their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $27.00 price objective on shares of QXO in a research report on Friday, July 10th. Citigroup reduced their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.57.

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.