Sprint Sees Unusually Large Options Volume (NYSE:S)

Sprint Corp (NYSE:S) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 66,170 put options on the stock. This represents an increase of approximately 1,319% compared to the typical volume of 4,663 put options.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Sprint from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Tuesday, October 10th. Vetr cut Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price target for the company. in a report on Thursday, January 4th. UBS Group restated a “buy” rating and set a $7.50 price target (down previously from $9.00) on shares of Sprint in a report on Monday, November 6th. Macquarie restated a “hold” rating and set a $8.00 price target on shares of Sprint in a report on Thursday, October 26th. Finally, KeyCorp cut Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price target for the company. in a report on Monday, November 6th. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.29.

Sprint (NYSE:S) traded up $0.26 during trading hours on Friday, hitting $5.36. The stock had a trading volume of 36,147,906 shares, compared to its average volume of 17,510,000. The company has a market cap of $21,440.00, a price-to-earnings ratio of 3.10 and a beta of 0.64. Sprint has a 1-year low of $4.91 and a 1-year high of $9.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.

In other Sprint news, major shareholder Group Corp Softbank bought 6,149,090 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was purchased at an average price of $5.68 per share, for a total transaction of $34,926,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dow Draper sold 292,707 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $5.71, for a total value of $1,671,356.97. Following the sale, the insider now owns 1,165,158 shares of the company’s stock, valued at approximately $6,653,052.18. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 72,408,783 shares of company stock valued at $421,783,446 and have sold 913,236 shares valued at $5,377,413. Company insiders own 0.18% of the company’s stock.

Several large investors have recently bought and sold shares of S. Schwab Charles Investment Management Inc. lifted its stake in shares of Sprint by 8.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,148,503 shares of the cell phone carrier’s stock worth $9,430,000 after acquiring an additional 92,389 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Sprint by 1.9% during the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock worth $216,000 after acquiring an additional 500 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Sprint by 52.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,976 shares of the cell phone carrier’s stock worth $180,000 after acquiring an additional 7,585 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Sprint by 15.2% during the 2nd quarter. Private Advisor Group LLC now owns 23,134 shares of the cell phone carrier’s stock worth $190,000 after acquiring an additional 3,048 shares during the last quarter. Finally, Financial Counselors Inc. lifted its stake in shares of Sprint by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the last quarter. 13.75% of the stock is owned by institutional investors and hedge funds.

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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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