Is Buying Xerox Corporation (NYSE:XRX), Having Lower Short Interest a Winning Strategy?

March 16, 2018 - By Adrian Mccoy

 Is Buying Xerox Corporation (NYSE:XRX), Having Lower Short Interest a Winning Strategy?

Investors sentiment increased to 0.12 in Q3 2017. Its up 0.11, from 0.01 in 2017Q2. It improved, as 10 investors sold Xerox Corporation shares while 7 reduced holdings. 0 funds opened positions while 2 raised stakes. 26.13 million shares or 10.07% less from 29.05 million shares in 2017Q2 were reported.
Boltwood Capital Mngmt stated it has 0.26% in Xerox Corporation (NYSE:XRX). Wellington Shields & Lc owns 7,952 shares for 0.09% of their portfolio. Eqis Cap Mgmt Inc holds 0.04% or 23,791 shares in its portfolio. Cibc World Mkts owns 351,045 shares for 0.11% of their portfolio. Burney Company holds 9,256 shares or 0.02% of its portfolio. Polaris Cap Mgmt Llc invested 1.59% of its portfolio in Xerox Corporation (NYSE:XRX). Hanson Doremus Inv Mngmt stated it has 0.53% in Xerox Corporation (NYSE:XRX). Fruth Invest Management has invested 0.19% in Xerox Corporation (NYSE:XRX). Focused Wealth Management has invested 0% in Xerox Corporation (NYSE:XRX). Columbia Asset Mngmt holds 8,536 shares. Adirondack Research And Mgmt owns 16,883 shares. Nelson Roberts Investment Limited Company holds 0% of its portfolio in Xerox Corporation (NYSE:XRX) for 100 shares. Icahn Carl C has 24.76M shares for 3.88% of their portfolio. Moreover, Dreman Value Mgmt L L C has 0.24% invested in Xerox Corporation (NYSE:XRX) for 15,106 shares. Altfest L J invested 0.12% in Xerox Corporation (NYSE:XRX).

Since January 31, 2018, it had 0 buys, and 2 sales for $44.60 million activity.

The stock of Xerox Corporation (NYSE:XRX) registered a decrease of 15.22% in short interest. XRX’s total short interest was 5.52M shares in March as published by FINRA. Its down 15.22% from 6.52M shares, reported previously. With 3.19 million shares average volume, it will take short sellers 2 days to cover their XRX’s short positions. The short interest to Xerox Corporation’s float is 2.51%.

The stock increased 0.16% or $0.05 during the last trading session, reaching $31.1. About 179,096 shares traded. Xerox Corporation (NYSE:XRX) has risen 17.43% since March 16, 2017 and is uptrending. It has outperformed by 0.73% the S&P500.

Xerox Corporation provides document management solutions worldwide. The company has market cap of $7.92 billion. The companyÂ’s Document Technology segment offers desktop monochrome and color printers, multifunction printers, copiers, digital printing presses, and light production devices; and production printing and publishing systems for the graphic communications marketplace and large enterprises. It has a 43.68 P/E ratio. The Company’s Services segment provides document outsourcing services comprising managed print, workflow automation, and communication and marketing services.

Xerox Corporation (NYSE:XRX) Ratings Coverage

Among 14 analysts covering Xerox Corporation (NYSE:XRX), 9 have Buy rating, 1 Sell and 4 Hold. Therefore 64% are positive. Xerox Corporation has $40 highest and $8 lowest target. $30.33’s average target is -2.48% below currents $31.1 stock price. Xerox Corporation had 34 analyst reports since July 28, 2015 according to SRatingsIntel. The company was upgraded on Tuesday, January 3 by Credit Suisse. The firm has “Outperform” rating given on Wednesday, August 2 by Credit Suisse. TheStreet upgraded the shares of XRX in report on Monday, August 17 to “Buy” rating. UBS upgraded the shares of XRX in report on Monday, February 5 to “Buy” rating. SunTrust initiated Xerox Corporation (NYSE:XRX) on Tuesday, September 13 with “Buy” rating. The stock of Xerox Corporation (NYSE:XRX) earned “Buy” rating by Loop Capital Markets on Monday, July 24. The rating was initiated by Goldman Sachs on Tuesday, December 1 with “Neutral”. Barclays Capital upgraded the shares of XRX in report on Monday, July 24 to “Equal-Weight” rating. On Wednesday, January 31 the stock rating was downgraded by BMO Capital Markets to “Hold”. Barclays Capital initiated it with “Underweight” rating and $10 target in Wednesday, October 14 report.

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