Xerox Sees Unusually High Options Volume (NYSE:XRX)

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

Institutional Inflows and Outflows

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

Xerox Stock Performance

Xerox stock opened at $5.80 on Thursday. 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 has a 1 year low of $5.62 and a 1 year high of $18.18. The business has a 50 day moving average of $7.82 and a 200-day moving average of $8.88. The company has a market capitalization of $726.63 million, a P/E ratio of -0.54 and a beta of 1.66.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 8.62%. Xerox’s payout ratio is -4.66%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.