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

Xerox Holdings Co. (NYSE:XRX - Get Free Report) was the target of some unusual options trading on Wednesday. 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.

Xerox Stock Performance

Shares of XRX traded down $0.16 during mid-day trading on Thursday, hitting $5.14. 6,048,220 shares of the company's stock were exchanged, compared to its average volume of 3,142,870. Xerox has a fifty-two week low of $3.45 and a fifty-two week high of $12.29. The firm has a market capitalization of $646.56 million, a P/E ratio of -0.48 and a beta of 1.82. The business's 50 day moving average is $5.28 and its two-hundred day moving average is $6.28. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

Xerox (NYSE:XRX - Get Free Report) last announced its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same quarter last year, the company posted $0.06 EPS. Xerox's quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts expect that Xerox will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 1.95%. Xerox's payout ratio is currently -0.95%.

Insider Buying and Selling

In related news, Director A. Scott Letier acquired 25,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $4.43 per share, for a total transaction of $110,750.00. Following the acquisition, the director owned 29,384 shares in the company, valued at $130,171.12. The trade was a 570.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven John Bandrowczak acquired 22,300 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $4.48 per share, for a total transaction of $99,904.00. Following the acquisition, the chief executive officer directly owned 382,442 shares in the company, valued at approximately $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 82,300 shares of company stock valued at $364,254 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 2,911 shares during the period. Allworth Financial LP increased its stake in shares of Xerox by 137.7% during the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 3,484 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 2,885 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Xerox by 331.8% in the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Xerox by 569.7% during the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after buying an additional 5,993 shares in the last quarter. 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.