Jackson Hill Advisors LLC Has $18.15 Million Stock Position in QXO, Inc. $QXO

Jackson Hill Advisors LLC raised its position in QXO, Inc. (NYSE:QXO) by 80.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 941,000 shares of the company’s stock after purchasing an additional 419,000 shares during the quarter. QXO accounts for approximately 8.4% of Jackson Hill Advisors LLC’s holdings, making the stock its 5th biggest holding. Jackson Hill Advisors LLC owned approximately 0.14% of QXO worth $18,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in QXO in the 2nd quarter worth about $30,000. LRI Investments LLC raised its position in QXO by 129.1% in the 4th 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 period. Newbridge Financial Services Group Inc. raised its position in QXO by 57.5% in the 4th 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 period. Sentry Investment Management LLC purchased a new stake in QXO in the 3rd quarter worth about $40,000. Finally, Allworth Financial LP raised its position in QXO by 66.9% in the 3rd 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 period. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QXO has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Royal Bank Of Canada reduced their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Finally, Citigroup reduced their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Sixteen analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

QXO Stock Performance

Shares of NYSE:QXO opened at $16.52 on Thursday. The firm has a market cap of $11.98 billion, a PE ratio of -18.15, a price-to-earnings-growth ratio of 4.18 and a beta of 2.30. The firm’s 50 day simple moving average is $19.33 and its 200-day simple moving average is $21.05. QXO, Inc. has a one year low of $15.50 and a one year 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.

QXO (NYSE:QXO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 revenue was up 12716.3% compared to the same quarter last year. As a group, equities analysts predict that QXO, Inc. will post 0.2 EPS for the current year.

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.