Traders Purchase Large Volume of Put Options on Xerox (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading activity on Wednesday. Investors acquired 1,689 put options on the company. This is an increase of 1,369% compared to the average volume of 115 put options.

Xerox Trading Down 1.7 %

XRX opened at $13.06 on Thursday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -8.32 and a beta of 1.56. Xerox has a 12 month low of $12.06 and a 12 month high of $19.78. The firm’s fifty day simple moving average is $17.03 and its 200 day simple moving average is $16.29. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.29). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. As a group, research analysts anticipate that Xerox will post 2.16 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 7.66%. Xerox’s dividend payout ratio is currently -63.69%.

Wall Street Analyst Weigh In

XRX has been the topic of a number of recent analyst reports. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th.

Institutional Investors Weigh In On Xerox

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in Xerox in the 4th quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Xerox in the 4th quarter valued at $25,000. Hexagon Capital Partners LLC increased its stake in Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 758 shares during the last quarter. TFO Wealth Partners LLC increased its stake in Xerox by 30,127.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after buying an additional 3,314 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Xerox by 1,733.2% in the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 4,333 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Company Profile

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.