Sycale Advisors NY LLC Invests $5.65 Million in QXO, Inc. $QXO

Sycale Advisors NY LLC bought a new position in shares of QXO, Inc. (NYSE:QXO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 293,000 shares of the company’s stock, valued at approximately $5,652,000. QXO comprises approximately 1.8% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of QXO by 42.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 22,075 shares of the company’s stock worth $426,000 after acquiring an additional 6,583 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of QXO by 11.7% during the 4th quarter. MML Investors Services LLC now owns 130,017 shares of the company’s stock worth $2,508,000 after acquiring an additional 13,657 shares in the last quarter. Mariner LLC boosted its stake in shares of QXO by 99.1% during the 4th quarter. Mariner LLC now owns 32,085 shares of the company’s stock worth $619,000 after acquiring an additional 15,971 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in shares of QXO during the 4th quarter worth about $5,247,000. Finally, Graybill Wealth Management LTD. boosted its stake in shares of QXO by 1.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 198,714 shares of the company’s stock worth $3,833,000 after acquiring an additional 2,536 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Trading Down 0.2%

QXO opened at $16.60 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The company’s 50 day simple moving average is $18.85 and its two-hundred day simple moving average is $21.01. QXO, Inc. has a 1-year low of $14.75 and a 1-year high of $27.61. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of -18.25, a price-to-earnings-growth ratio of 4.26 and a beta of 2.30.

QXO (NYSE:QXO) last released 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO’s revenue for the quarter was up 12716.3% on a year-over-year basis. Analysts expect that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. KeyCorp increased their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Robert W. Baird decreased their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has 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.