498,480 Xerox Holdings Co. $XRX Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its position in Xerox Holdings Co. (NASDAQ:XRX) by 35.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 909,102 shares of the information technology services provider’s stock after selling 498,480 shares during the quarter. Private Management Group Inc.’s holdings in Xerox were worth $2,877,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in XRX. Integrated Wealth Concepts LLC acquired a new stake in Xerox during the 2nd quarter worth approximately $28,000. Sowell Financial Services LLC acquired a new position in Xerox in the 3rd quarter valued at approximately $34,000. Great Lakes Advisors LLC acquired a new position in Xerox in the 2nd quarter valued at approximately $45,000. Chicago Partners Investment Group LLC bought a new position in shares of Xerox during the first quarter valued at $25,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Xerox by 41.5% during the third quarter. Vontobel Holding Ltd. now owns 22,840 shares of the information technology services provider’s stock valued at $72,000 after acquiring an additional 6,700 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Price Performance

Xerox stock opened at $1.07 on Wednesday. The stock’s 50 day moving average is $2.72 and its 200 day moving average is $2.48. Xerox Holdings Co. has a one year low of $1.01 and a one year high of $3.78. The firm has a market cap of $142.53 million, a P/E ratio of -0.12 and a beta of 2.65. The company has a debt-to-equity ratio of 12.58, a current ratio of 1.14 and a quick ratio of 0.80.

Xerox (NASDAQ:XRX) last released its earnings results on Thursday, October 29th. The information technology services provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $1.87 billion during the quarter. Xerox had a negative net margin of 15.40% and a positive return on equity of 53.07%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. As a group, research analysts expect that Xerox Holdings Co. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

XRX has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Xerox from $2.50 to $1.50 and set a “sell” rating on the stock in a report on Friday, October 30th. Needham & Company LLC set a $5.00 price objective on Xerox in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a research report on Thursday, October 22nd. Finally, Noble Financial began coverage on Xerox in a research report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 target price for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $3.83.

Xerox Profile

Xerox Holdings Corporation (NASDAQ:XRX) is a technology and workplace solutions company that provides printing, document management and digital services to businesses and other organizations. The company serves customers across a range of industries, including government, education, healthcare, financial services and professional services. Xerox offers office printers, multifunction devices, production printers and related supplies, software and support services. Its portfolio also includes document workflow and content-management solutions designed to help organizations digitize, automate and manage business processes.