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

Xerox Holdings Co. (NYSE:XRX) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 1,689 put options on the company. This is an increase of 1,369% compared to the typical daily volume of 115 put options.

Wall Street Analysts Forecast Growth

A number of analysts have commented on XRX shares. JPMorgan Chase & Co. decreased their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley decreased 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. Finally, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Stock Performance

XRX stock opened at $8.40 on Thursday. 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 firm has a market cap of $1.04 billion, a PE ratio of -0.78 and a beta of 1.59. The business has a 50 day moving average of $8.89 and a 200-day moving average of $9.63. Xerox has a 12-month low of $8.02 and a 12-month high of $19.48.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Xerox by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after buying an additional 76,886 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Xerox by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock valued at $740,000 after acquiring an additional 1,627 shares during the last quarter. Algert Global LLC bought a new position in shares of Xerox during the 2nd quarter valued at approximately $138,000. Sanctuary Advisors LLC purchased a new stake in shares of Xerox during the 2nd quarter worth approximately $704,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Xerox by 21.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,881 shares of the information technology services provider’s stock worth $580,000 after purchasing an additional 8,736 shares during the period. 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.