Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Sprint (S) Stock Price
Headlines about Sprint (NYSE:S) have trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sprint earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news articles about the cell phone carrier an impact score of 45.8843342951985 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the media stories that may have impacted Accern’s scoring:
- Sprint subsidiary accused of repeatedly misrepresenting auctioned phones – Kansas City Business Journal (bizjournals.com)
- Sprint Corp (S) Short Interest Up 12.3% in November (americanbankingnews.com)
- After the XTL jumps over 7% in a month (finance.yahoo.com)
- What The FCC’s Net Neutrality Repeal Means For You – Benzinga (benzinga.com)
Sprint (NYSE S) traded down $0.14 on Friday, reaching $5.49. 30,396,005 shares of the company were exchanged, compared to its average volume of 17,270,000. Sprint has a 52-week low of $5.42 and a 52-week high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80.
Several brokerages have recently issued reports on S. Oppenheimer reiterated a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Zacks Investment Research lowered shares of Sprint from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Deutsche Bank dropped their target price on shares of Sprint from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Sprint in a research report on Wednesday, October 11th. Finally, ValuEngine lowered shares of Sprint from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Sprint presently has an average rating of “Hold” and an average target price of $7.10.
In other Sprint news, insider Dow Draper sold 292,707 shares of Sprint stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $5.71, for a total transaction of $1,671,356.97. Following the transaction, the insider now directly owns 1,165,158 shares of the company’s stock, valued at $6,653,052.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Group Corp Softbank bought 4,322,990 shares of Sprint stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $6.21 per share, for a total transaction of $26,845,767.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 18,651,252 shares of company stock worth $112,608,289 and have sold 913,236 shares worth $5,377,413. 0.18% of the stock is owned by insiders.
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Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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