Exela Technologies (XELA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Exela Technologies (NASDAQ:XELA) from a sell rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Exela Technologies, Inc. is engaged in providing information and transaction processing solutions. The Company’s segments include Information and Transaction Processing Solutions, Healthcare Solutions and Legal & Loss Prevention Services. ITPS provides industry solutions for banking and financial services, including lending solutions for mortgages, banking solutions for clearing, anti-money laundering, sanctions, cross-border settlement; property and casualty insurance solutions for enrollments, and communications. The HS segment offerings include integrated accounts payable and accounts receivable, and information management for both the healthcare payer and provider markets. The LLPS segment solutions include processing of legal claims for class action and mass action settlement administrations, involving project management support, notification and collection, analysis, and distribution of settlement funds. Exela Technologies Inc., formerly known as Quinpario Acquisition Corp. 2, is based in United States. “
Several other research firms also recently weighed in on XELA. Morgan Stanley assumed coverage on Exela Technologies in a report on Monday, October 22nd. They issued an overweight rating and a $9.00 price objective for the company. Nomura reissued a buy rating and issued a $10.00 price objective on shares of Exela Technologies in a report on Sunday, August 12th.
Exela Technologies (NASDAQ:XELA) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.18). The firm had revenue of $383.03 million during the quarter. Exela Technologies had a negative net margin of 8.70% and a negative return on equity of 31,672.80%. Sell-side analysts predict that Exela Technologies will post -0.41 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of XELA. Millennium Management LLC lifted its holdings in shares of Exela Technologies by 425.1% during the first quarter. Millennium Management LLC now owns 361,997 shares of the company’s stock worth $2,002,000 after purchasing an additional 293,053 shares during the period. Rhumbline Advisers acquired a new stake in shares of Exela Technologies during the second quarter worth $190,000. Bank of New York Mellon Corp acquired a new stake in shares of Exela Technologies during the second quarter worth $589,000. Serengeti Asset Management LP lifted its holdings in shares of Exela Technologies by 92.4% during the second quarter. Serengeti Asset Management LP now owns 433,000 shares of the company’s stock worth $2,057,000 after purchasing an additional 208,000 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Exela Technologies during the second quarter worth $422,000. 43.78% of the stock is owned by hedge funds and other institutional investors.
About Exela Technologies
Exela Technologies, Inc (Exela), formerly Quinpario Acquisition Corp. 2, is engaged in providing information and transaction processing solutions. The Company’s segments include Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS).
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