Contrarius Group Holdings Ltd Has $15.29 Million Stock Holdings in QXO, Inc. $QXO

Contrarius Group Holdings Ltd raised its holdings in QXO, Inc. (NYSE:QXO) by 71.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 792,686 shares of the company’s stock after buying an additional 330,449 shares during the period. QXO comprises approximately 0.7% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 22nd biggest holding. Contrarius Group Holdings Ltd owned approximately 0.12% of QXO worth $15,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QXO. Baillie Gifford & Co. raised its stake in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the period. MTCO Ltd. bought a new stake in QXO in the third quarter valued at approximately $208,534,000. Fred Alger Management LLC acquired a new stake in QXO during the 3rd quarter valued at $173,053,000. Schf GPE LLC lifted its holdings in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Stock Up 0.3%

QXO opened at $15.81 on Monday. QXO, Inc. has a fifty-two week low of $15.45 and a fifty-two week high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The company has a market capitalization of $11.47 billion, a P/E ratio of -17.37, a P/E/G ratio of 4.04 and a beta of 2.30. The stock has a fifty day moving average of $19.16 and a 200-day moving average of $21.03.

QXO (NYSE:QXO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO’s quarterly revenue was up 12716.3% compared to the same quarter last year. On average, equities analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QXO shares. Stephens cut their price target on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, February 20th. BNP Paribas Exane initiated coverage on shares of QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price for the company. Finally, Robert W. Baird reduced their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.14.

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.