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

Xerox Holdings Co. (NYSE:XRX) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 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 Trading Down 0.1 %

Shares of NYSE XRX opened at $8.39 on Friday. The company has a market cap of $1.04 billion, a PE ratio of -0.78 and a beta of 1.59. 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 company has a 50-day moving average of $8.87 and a two-hundred day moving average of $9.62. Xerox has a 1-year low of $8.02 and a 1-year high of $19.48.

Hedge Funds Weigh In On Xerox

Institutional investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in Xerox during the third quarter worth about $29,000. US Bancorp DE increased its position in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the last quarter. KBC Group NV boosted its stake in shares of Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 4,224 shares during the period. Vest Financial LLC acquired a new stake in Xerox during the 4th quarter valued at $97,000. Finally, Prism Advisors Inc. acquired a new position in shares of Xerox in the fourth quarter valued at $103,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley lowered their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $9.50.

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.