QXO, Inc. $QXO Shares Sold by Madrone Advisors LLC

Madrone Advisors LLC reduced its stake in shares of QXO, Inc. (NYSE:QXO) by 46.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,115,198 shares of the company’s stock after selling 4,426,196 shares during the period. QXO makes up approximately 6.1% of Madrone Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Madrone Advisors LLC owned 0.76% of QXO worth $98,672,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Arax Advisory Partners purchased a new position in shares of QXO during the fourth quarter worth $25,000. LRI Investments LLC raised its holdings in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of QXO during the second quarter worth $30,000. Finally, Allworth Financial LP raised its holdings in shares of QXO by 66.9% during the third quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock worth $39,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Down 0.2%

QXO opened at $16.60 on Monday. QXO, Inc. has a fifty-two week low of $14.75 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 fifty day moving average of $18.85 and a two-hundred day moving average of $21.01. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of -18.25, a PEG ratio of 4.26 and a beta of 2.30.

QXO (NYSE:QXO) last released its quarterly earnings data 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 negative net margin of 6.02% and a positive return on equity of 1.91%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on QXO. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Royal Bank Of Canada reduced their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, Stephens reduced their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.