GABELLI & Co INVESTMENT ADVISERS INC. Invests $101,000 in Xerox Holdings Co. (NYSE:XRX)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Xerox Holdings Co. (NYSE:XRX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,000 shares of the information technology services provider’s stock, valued at approximately $101,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its position in shares of Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,885 shares during the period. KBC Group NV grew its holdings in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 4,224 shares during the period. Marathon Trading Investment Management LLC bought a new stake in Xerox in the fourth quarter worth about $84,000. Sterling Capital Management LLC lifted its holdings in Xerox by 48.9% in the 4th quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock valued at $85,000 after acquiring an additional 3,319 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of Xerox during the 4th quarter valued at about $87,000. Institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 0.8 %

Shares of NYSE XRX opened at $3.85 on Wednesday. The business has a fifty day simple moving average of $5.97 and a 200-day simple moving average of $8.04. The company has a market cap of $484.23 million, a price-to-earnings ratio of -0.36 and a beta of 1.56. Xerox Holdings Co. has a 12 month low of $3.45 and a 12 month high of $16.77. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 12.99%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is currently -4.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $9.50.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.