Xerox Target of Unusually Large Options Trading (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading activity on Wednesday. Stock traders bought 1,689 put options on the stock. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management lifted its stake in Xerox by 330.5% in the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 2,885 shares during the last quarter. TD Waterhouse Canada Inc. bought a new stake in Xerox in the 4th quarter valued at about $51,000. KBC Group NV boosted its stake in Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares during the period. Marathon Trading Investment Management LLC bought a new position in Xerox in the 4th quarter worth about $84,000. Finally, Sterling Capital Management LLC increased its stake in shares of Xerox by 48.9% in the fourth quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock valued at $85,000 after purchasing an additional 3,319 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

XRX opened at $5.80 on Thursday. Xerox has a twelve month low of $5.62 and a twelve month high of $18.18. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The firm has a market cap of $726.63 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. The company has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $8.88.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued 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 is presently -4.66%.

Wall Street Analyst Weigh In

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

About Xerox

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.