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

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

Xerox Stock Down 3.1 %

Shares of XRX opened at $8.23 on Thursday. The stock’s 50-day moving average price is $10.37 and its 200-day moving average price is $11.88. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.84 and a beta of 1.57. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.28). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $0.46 earnings per share. Xerox’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Xerox will post 1.72 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on XRX. JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Loop Capital reduced their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley cut their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Xerox has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Investors Weigh In On Xerox

Hedge funds have recently modified their holdings of the company. SG Capital Management LLC purchased a new position in shares of Xerox during the 1st quarter valued at approximately $8,466,000. Mizuho Markets Americas LLC increased its stake in Xerox by 282.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock worth $4,110,000 after buying an additional 261,180 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Xerox in the first quarter valued at approximately $4,509,000. Acadian Asset Management LLC acquired a new stake in shares of Xerox in the first quarter worth approximately $4,066,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after acquiring an additional 225,617 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.