Crestline Management LP Invests $560,000 in Xerox Holdings Co. (NYSE:XRX)

Crestline Management LP acquired a new stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,422 shares of the information technology services provider's stock, valued at approximately $560,000. Crestline Management LP owned about 0.05% of Xerox as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in Xerox by 330.5% during the fourth 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 last quarter. TD Waterhouse Canada Inc. purchased a new stake in Xerox during the fourth quarter valued at about $51,000. KBC Group NV lifted 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 valued at $78,000 after purchasing an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in Xerox during the fourth quarter valued at about $84,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Xerox by 48.9% in the fourth quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider's stock worth $85,000 after buying an additional 3,319 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Price Performance

XRX traded down $0.12 on Thursday, reaching $5.45. The company had a trading volume of 1,159,355 shares, compared to its average volume of 2,857,158. The business has a 50 day simple moving average of $4.85 and a 200 day simple moving average of $7.24. The company has a market cap of $684.84 million, a price-to-earnings ratio of -0.51 and a beta of 1.75. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox Holdings Co. has a 52-week low of $3.45 and a 52-week high of $14.81.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date was Monday, March 31st. Xerox's payout ratio is currently -4.74%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of 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 given a hold rating to the company's stock. According to data from MarketBeat.com, Xerox currently has an average rating of "Reduce" and a consensus price target 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.