Sprint Corporation (NYSE:S) saw unusually large options trading on Wednesday. Traders acquired 2,058 put options on the company. This represents an increase of approximately 459% compared to the average daily volume of 368 put options.
In other Sprint news, major shareholder Group Corp Softbank bought 961,380 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were purchased at an average cost of $5.99 per share, for a total transaction of $5,758,666.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jorge Enrique Gracia sold 112,959 shares of Sprint stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $6.18, for a total value of $698,086.62. Following the completion of the sale, the insider now owns 858,383 shares in the company, valued at $5,304,806.94. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 17,606,212 shares of company stock valued at $106,348,500. 0.18% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Financial Counselors Inc. raised its position in shares of Sprint by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after acquiring an additional 201 shares during the period. Wetherby Asset Management Inc. bought a new position in shares of Sprint during the 2nd quarter worth approximately $100,000. Commerce Bank bought a new position in shares of Sprint during the 3rd quarter worth approximately $100,000. Summit Securities Group LLC bought a new position in shares of Sprint during the 2nd quarter worth approximately $108,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Sprint by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares in the last quarter. 13.74% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on S. Cowen reiterated a “market perform” rating and set a $6.50 target price on shares of Sprint in a research note on Tuesday, August 8th. Barclays reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Sprint in a report on Wednesday, August 9th. Moffett Nathanson reissued a “sell” rating on shares of Sprint in a report on Thursday, October 12th. BidaskClub lowered shares of Sprint from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Oppenheimer reiterated a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.19.
Sprint (S) traded down $0.21 during trading on Tuesday, hitting $5.74. 15,237,445 shares of the stock traded hands, compared to its average volume of 15,118,502. 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 has a 1-year low of $5.62 and a 1-year high of $9.65.
Sprint (NYSE:S) last posted its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. equities research analysts predict that Sprint will post -0.03 earnings per share for the current fiscal year.
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Sprint 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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