Mork Capital Management LLC Acquires New Holdings in Xerox Holdings Co. $XRX

Key Points

• Mork Capital Management LLC invested approximately $724,000 in Xerox Holdings Co., acquiring 150,000 shares during the first quarter.
• Xerox reported a loss of $0.64 earnings per share for the last quarter, missing the consensus estimate by $0.71.
• The company declared a $0.025 quarterly dividend, with a yield of 2.6%, payable on October 31st.

Mork Capital Management LLC purchased a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150,000 shares of the information technology services provider's stock, valued at approximately $724,000. Mork Capital Management LLC owned approximately 0.12% of Xerox as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Xerox by 110.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after buying an additional 2,911 shares in the last quarter. Allworth Financial LP boosted its stake in Xerox by 137.7% in the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 3,484 shares during the last quarter. Larson Financial Group LLC boosted its stake in Xerox by 331.8% in the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 5,000 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Xerox by 569.7% during the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 5,993 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Xerox during the first quarter worth $49,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Xerox from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Citigroup assumed coverage on shares of Xerox in a research note on Monday, August 18th. They set a "neutral" rating and a $4.50 price objective on the stock. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $6.83.

Xerox Price Performance

NYSE:XRX traded up $0.13 on Thursday, hitting $3.75. The company had a trading volume of 1,969,834 shares, compared to its average volume of 4,054,737. The stock has a market capitalization of $471.23 million, a price-to-earnings ratio of -0.35 and a beta of 1.77. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The firm has a 50 day moving average of $4.55 and a two-hundred day moving average of $4.97. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.71). 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 company posted $0.29 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is presently -0.87%.

Insider Buying and Selling

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $3.95 per share, with a total value of $116,920.00. Following the completion of the purchase, the director owned 58,984 shares of the company's stock, valued at approximately $232,986.80. This represents a 100.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company's stock.

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.