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

Xerox Holdings Co. (NYSE:XRX - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders acquired 1,689 put options on the company. This is an increase of approximately 1,369% compared to the typical daily volume of 115 put options.

Insiders Place Their Bets

In related news, COO John G. Bruno acquired 25,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the chief operating officer now owns 259,775 shares in the company, valued at $1,137,814.50. This trade represents a 10.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mirlanda Gecaj acquired 10,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $4.41 per share, for a total transaction of $44,100.00. Following the acquisition, the chief financial officer now owns 15,956 shares of the company's stock, valued at $70,365.96. This represents a 167.90% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 82,300 shares of company stock valued at $364,254. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xerox

A number of hedge funds and other institutional investors have recently bought and sold shares of XRX. PNC Financial Services Group Inc. grew its position in Xerox by 110.8% in 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 buying an additional 2,911 shares during the last quarter. Allworth Financial LP boosted its position 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 boosted its position 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 boosted its position in shares of Xerox by 331.8% during the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Xerox by 569.7% during the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 5,993 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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 issued a hold rating to the stock. According to data from MarketBeat, Xerox presently has a consensus rating of "Reduce" and an average target price of $9.50.

Xerox Stock Performance

Shares of Xerox stock traded down $0.05 during trading on Monday, reaching $4.84. The company's stock had a trading volume of 3,779,505 shares, compared to its average volume of 3,010,014. The company has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $6.89. Xerox has a fifty-two week low of $3.45 and a fifty-two week high of $14.81. 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 $608.82 million, a PE ratio of -0.45 and a beta of 1.75.

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

Xerox Dividend Announcement

The company also recently disclosed a 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. Xerox's dividend payout ratio (DPR) is -0.95%.

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.