Investors 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 activity on Wednesday. Stock investors purchased 1,689 put options on the company. This is an increase of approximately 1,369% compared to the average volume of 115 put options.

Analyst Ratings Changes

XRX has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a report on Wednesday, October 30th. Three 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 has a consensus rating of "Reduce" and a consensus price target of $9.50.

Xerox Price Performance

NYSE:XRX traded down $0.54 during trading hours on Friday, hitting $7.85. 4,342,607 shares of the company's stock traded hands, compared to its average volume of 2,343,777. The firm has a market cap of $976.34 million, a P/E ratio of -0.73 and a beta of 1.59. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The business's fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $9.56. Xerox has a 52 week low of $7.81 and a 52 week high of $19.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wealthfront Advisers LLC bought a new stake in Xerox during the fourth quarter valued at approximately $236,000. Marathon Trading Investment Management LLC purchased a new position in Xerox in the fourth quarter worth $84,000. AlphaQuest LLC increased its stake in Xerox by 25.9% in the fourth quarter. AlphaQuest LLC now owns 23,718 shares of the information technology services provider's stock valued at $200,000 after acquiring an additional 4,882 shares during the last quarter. Amundi raised its position in Xerox by 175.6% during the fourth quarter. Amundi now owns 56,099 shares of the information technology services provider's stock valued at $500,000 after purchasing an additional 35,745 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Xerox during the fourth quarter worth about $208,000. Hedge funds and other institutional investors 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.