Great Hill Capital LLC Acquires 232,126 Shares of QXO, Inc. $QXO

Great Hill Capital LLC raised its holdings in QXO, Inc. (NYSE:QXO) by 44.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 753,004 shares of the company’s stock after acquiring an additional 232,126 shares during the quarter. QXO comprises 0.5% of Great Hill Capital LLC’s portfolio, making the stock its 14th largest position. Great Hill Capital LLC’s holdings in QXO were worth $8,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QXO. Finepoint Capital LP raised its position in shares of QXO by 30.7% during the 2nd quarter. Finepoint Capital LP now owns 18,113,850 shares of the company’s stock valued at $313,007,000 after acquiring an additional 4,255,435 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of QXO by 25.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock valued at $66,679,000 after purchasing an additional 1,173,274 shares during the period. Spyglass Capital Management LLC bought a new position in shares of QXO in the 2nd quarter worth $62,961,000. Bank of New York Mellon Corp bought a new position in shares of QXO in the 2nd quarter worth $44,919,000. Finally, CI Investments Inc. boosted its position in shares of QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after purchasing an additional 102,838 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Morgan Stanley initiated coverage on QXO in a report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 target price on the stock. Royal Bank Of Canada reduced their target price on QXO from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Finally, KeyCorp decreased their target price on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.77.

QXO Stock Up 3.3%

Shares of QXO stock opened at $10.47 on Wednesday. The firm has a fifty day moving average of $12.47 and a 200-day moving average of $15.60. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. QXO, Inc. has a 12-month low of $10.03 and a 12-month high of $27.61. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 84.50, a P/E/G ratio of 2.13 and a beta of 2.30.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. As a group, equities research analysts predict that QXO, Inc. will post 0.24 earnings per share for the current fiscal year.

QXO Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.