Sprint Corporation Sees Unusually Large Options Volume (S)
Sprint Corporation (NYSE:S) was the target of some unusual options trading on Wednesday. Stock traders acquired 2,058 put options on the company. This represents an increase of approximately 459% compared to the average volume of 368 put options.
Shares of Sprint Corporation (S) opened at $6.23 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. Sprint Corporation has a 12-month low of $5.62 and a 12-month high of $9.65.
Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. equities research analysts anticipate that Sprint Corporation will post -0.02 EPS for the current year.
Several research analysts have recently commented on the company. BidaskClub downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. KeyCorp reiterated a “hold” rating on shares of Sprint Corporation in a report on Wednesday, October 11th. Zacks Investment Research downgraded Sprint Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Macquarie reiterated a “hold” rating and issued a $8.00 price objective on shares of Sprint Corporation in a report on Thursday, October 26th. Finally, Barclays PLC restated a “neutral” rating and set a $8.00 price target on shares of Sprint Corporation in a report on Wednesday, August 9th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.19.
In other news, major shareholder Group Corp Softbank purchased 4,322,990 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $6.21 per share, for a total transaction of $26,845,767.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tarek Robbiati sold 363,529 shares of Sprint Corporation stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $6.00, for a total value of $2,181,174.00. Following the completion of the transaction, the chief financial officer now owns 1,901,974 shares in the company, valued at approximately $11,411,844. The disclosure for this sale can be found here. Insiders have acquired 16,644,832 shares of company stock worth $100,589,834 in the last 90 days. Company insiders own 0.18% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Wetherby Asset Management Inc. bought a new stake in shares of Sprint Corporation in the 2nd quarter worth approximately $100,000. Financial Counselors Inc. boosted its position in shares of Sprint Corporation by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares in the last quarter. Commerce Bank bought a new stake in shares of Sprint Corporation in the 3rd quarter worth approximately $100,000. Summit Securities Group LLC bought a new stake in shares of Sprint Corporation in the 2nd quarter worth approximately $108,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after purchasing an additional 318 shares in the last quarter. 13.57% of the stock is currently owned by hedge funds and other institutional investors.
Sprint Corporation Company Profile
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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