Leonteq Securities AG Increases Position in QXO, Inc. $QXO

Leonteq Securities AG lifted its holdings in shares of QXO, Inc. (NYSE:QXO) by 473.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,730 shares of the company’s stock after acquiring an additional 118,686 shares during the quarter. Leonteq Securities AG’s holdings in QXO were worth $2,791,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Arax Advisory Partners purchased a new stake in QXO during the fourth quarter worth about $25,000. LRI Investments LLC boosted its stake in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after acquiring an additional 835 shares during the last quarter. Root Financial Partners LLC boosted its stake in QXO by 73,350.0% in the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after acquiring an additional 1,467 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after acquiring an additional 575 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of QXO during the 2nd quarter valued at approximately $30,000. 58.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QXO has been the topic of a number of research reports. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Royal Bank Of Canada reduced their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Oppenheimer raised their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Citigroup lowered their target price on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.86.

QXO Stock Down 1.9%

QXO stock opened at $16.23 on Friday. 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 $11.77 billion, a price-to-earnings ratio of -17.84, a P/E/G ratio of 4.24 and a beta of 2.23. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $17.55 and a 200 day simple moving average of $20.73.

QXO (NYSE:QXO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO’s revenue for the quarter was up 12716.3% on a year-over-year basis. On average, analysts predict that QXO, Inc. will post 0.2 earnings per share for the current year.

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.