Investors Buy High Volume of Put Options on Xerox (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw some unusual options trading on Wednesday. Stock traders purchased 1,689 put options on the company. This represents an increase of approximately 1,369% compared to the average daily volume of 115 put options.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Up 0.7 %

XRX opened at $5.80 on Thursday. The company has a market capitalization of $726.63 million, a PE ratio of -0.54 and a beta of 1.66. The business has a 50-day moving average of $7.82 and a 200-day moving average of $8.88. Xerox has a fifty-two week low of $5.62 and a fifty-two week high of $18.18. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is presently -4.66%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XRX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Xerox by 7.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,551 shares of the information technology services provider’s stock worth $4,633,000 after buying an additional 36,420 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Xerox during the 4th quarter worth about $1,375,000. Wexford Capital LP bought a new position in shares of Xerox in the 4th quarter valued at approximately $97,000. Two Sigma Advisers LP lifted its holdings in Xerox by 8.7% in the 4th quarter. Two Sigma Advisers LP now owns 289,750 shares of the information technology services provider’s stock worth $2,443,000 after purchasing an additional 23,100 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Xerox by 1.0% during the fourth quarter. Two Sigma Investments LP now owns 452,329 shares of the information technology services provider’s stock worth $3,813,000 after purchasing an additional 4,552 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.