Quinn Opportunity Partners LLC Takes Position in Xerox Holdings Co. (NYSE:XRX)

Quinn Opportunity Partners LLC bought a new stake in Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 35,000 shares of the information technology services provider’s stock, valued at approximately $295,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in shares of Xerox by 39.2% during the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock worth $398,000 after purchasing an additional 10,794 shares during the period. Stifel Financial Corp lifted its stake in shares of Xerox by 44.2% in the third quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 46,708 shares in the last quarter. Barclays PLC grew its holdings in shares of Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Xerox by 26.1% in the 3rd quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock worth $710,000 after acquiring an additional 14,164 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Stock Up 2.3 %

Shares of NYSE XRX opened at $3.96 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The company has a market cap of $496.11 million, a P/E ratio of -0.37 and a beta of 1.56. Xerox Holdings Co. has a 52 week low of $3.45 and a 52 week high of $17.18. The business has a 50-day simple moving average of $6.15 and a two-hundred day simple moving average of $8.13.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 12.63%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is presently -4.66%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Profile

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.