Penn Capital Management Company LLC Invests $620,000 in QXO, Inc. $QXO

Penn Capital Management Company LLC acquired a new position in QXO, Inc. (NYSE:QXO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,915 shares of the company’s stock, valued at approximately $620,000.

Several other large investors also recently added to or reduced their stakes in QXO. Bogart Wealth LLC purchased a new position in QXO during the third quarter worth about $25,000. Allworth Financial LP raised its holdings in shares of QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of QXO in the 2nd quarter valued at about $30,000. GAMMA Investing LLC bought a new stake in shares of QXO during the 3rd quarter valued at about $31,000. Finally, WPG Advisers LLC bought a new stake in shares of QXO during the 3rd quarter valued at about $35,000. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO opened at $20.12 on Thursday. The stock has a 50-day moving average price of $23.60 and a 200-day moving average price of $21.03. QXO, Inc. has a 12-month low of $11.97 and a 12-month high of $27.61. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $14.26 billion, a P/E ratio of -34.11, a PEG ratio of 3.33 and a beta of 2.51.

QXO (NYSE:QXO) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO’s revenue was up 14725.0% on a year-over-year basis. Equities analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

QXO has been the subject of several recent analyst reports. Wall Street Zen lowered QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. BNP Paribas Exane started coverage on shares of QXO in a research report on Monday. They set an “outperform” rating and a $30.00 target price for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Finally, Citigroup decreased their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QXO has an average rating of “Moderate Buy” and a consensus price target of $32.27.

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. 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.