Quinn Opportunity Partners LLC Makes New Investment in Xerox Holdings Co. (NYSE:XRX)

Quinn Opportunity Partners LLC purchased a new stake in shares of Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 35,000 shares of the information technology services provider’s stock, valued at approximately $295,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Xerox by 164.8% in the 4th quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider’s stock worth $4,607,000 after buying an additional 340,168 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Xerox by 60.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 540,109 shares of the information technology services provider’s stock worth $4,467,000 after acquiring an additional 202,987 shares during the last quarter. Vanguard Group Inc. grew its position in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after acquiring an additional 199,598 shares in the last quarter. Norges Bank bought a new stake in Xerox during the fourth quarter worth about $1,632,000. Finally, Barclays PLC boosted its holdings in shares of Xerox by 55.5% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Up 2.3 %

XRX opened at $3.96 on Friday. 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 12 month low of $3.45 and a 12 month high of $17.18. The business’s 50-day moving average price is $6.15 and its 200-day moving average price is $8.13. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 12.63%. Xerox’s payout ratio is currently -4.66%.

Analyst Upgrades and Downgrades

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

Xerox Company 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.