Sprint Corp (NYSE:S) was the target of unusually large options trading activity on Wednesday. Investors acquired 66,170 put options on the company. This represents an increase of approximately 1,319% compared to the typical daily volume of 4,663 put options.
In other news, insider Jorge Enrique Gracia sold 112,959 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $6.18, for a total transaction of $698,086.62. Following the sale, the insider now owns 858,383 shares in the company, valued at $5,304,806.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $5.74, for a total transaction of $826,795.34. Following the sale, the vice president now owns 204,168 shares in the company, valued at approximately $1,171,924.32. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 66,259,693 shares of company stock worth $386,856,614 and sold 913,236 shares worth $5,377,413. 0.18% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Counselors Inc. raised its position in Sprint by 1.7% in the second 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 period. Commerce Bank bought a new position in Sprint in the third quarter worth approximately $100,000. Crossmark Global Holdings Inc. bought a new position in Sprint in the third quarter worth approximately $141,000. Americafirst Capital Management LLC bought a new position in Sprint in the third quarter worth approximately $156,000. Finally, Capital Bank & Trust Co raised its position in Sprint by 10,821.7% in the third quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after acquiring an additional 21,427 shares during the period. Institutional investors and hedge funds own 13.74% of the company’s stock.
S has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Tuesday, October 10th. BTIG Research increased their price target on shares of Sprint from $3.85 to $4.00 and gave the company a “sell” rating in a report on Wednesday, October 18th. KeyCorp cut shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 target price on the stock. in a report on Monday, November 6th. 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 report on Tuesday, October 10th. Finally, TheStreet cut shares of Sprint from a “c-” rating to a “d+” rating in a report on Tuesday, December 19th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.72.
Shares of Sprint (NYSE S) opened at $5.69 on Friday. Sprint has a fifty-two week low of $5.42 and a fifty-two week high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. The stock has a market cap of $22,760.00, a P/E ratio of -37.93 and a beta of 0.79.
Sprint (NYSE:S) last released its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the firm earned ($0.04) earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. analysts expect that Sprint will post -0.02 EPS for the current fiscal year.
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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