Stock Traders Buy High Volume of Xerox Put Options (NYSE:XRX)

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

Hedge Funds Weigh In On Xerox

A number of institutional investors have recently bought and sold shares of XRX. FNY Investment Advisers LLC acquired a new stake in shares of Xerox during the 4th quarter worth approximately $25,000. GAMMA Investing LLC acquired a new stake in shares of Xerox during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its stake in shares of Xerox by 38.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 630 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Xerox during the 1st quarter worth approximately $45,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after purchasing an additional 3,314 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XRX has been the topic of several recent analyst reports. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th.

Xerox Stock Up 0.5 %

NYSE:XRX opened at $12.59 on Thursday. Xerox has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The stock has a market capitalization of $1.56 billion, a P/E ratio of -8.02 and a beta of 1.63. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37. The company’s 50-day simple moving average is $13.91 and its 200-day simple moving average is $16.29.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm 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 firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Xerox will post 2.05 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.

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.