Crestline Management LP Buys Shares of 66,422 Xerox Holdings Co. (NYSE:XRX)

Crestline Management LP purchased a new position in Xerox Holdings Co. (NYSE:XRX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,422 shares of the information technology services provider’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC lifted its position 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 worth $4,869,000 after purchasing an additional 167,500 shares during the last quarter. Tidal Investments LLC lifted its holdings in Xerox by 26.1% during the 3rd quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock valued at $710,000 after buying an additional 14,164 shares in the last quarter. Sound Income Strategies LLC boosted its position in Xerox by 6.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after buying an additional 69,182 shares during the period. KBC Group NV increased its position in shares of 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. Finally, Prism Advisors Inc. bought a new stake in shares of Xerox during the fourth quarter valued at approximately $103,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Trading Down 1.3 %

NYSE:XRX opened at $5.52 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $7.33. Xerox Holdings Co. has a one year low of $3.45 and a one year high of $14.81. The firm has a market cap of $694.28 million, a P/E ratio of -0.51 and a beta of 1.75.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same period in the previous year, the business posted $0.06 EPS. Xerox’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.06%. Xerox’s dividend payout ratio (DPR) is presently -4.74%.

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.