Sprint Corp. (NYSE:S) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 152,048,916 shares, a drop of 9.7% from the October 31st total of 168,473,585 shares. Currently, 24.0% of the company’s shares are sold short. Based on an average daily trading volume, of 25,693,666 shares, the short-interest ratio is presently 5.9 days.

A number of research analysts have recently weighed in on the company. Jefferies Group reissued an “underperform” rating and issued a $2.25 price target on shares of Sprint Corp. in a research note on Saturday, October 15th. BTIG Research reissued a “sell” rating and issued a $2.50 price target (up previously from $2.00) on shares of Sprint Corp. in a research note on Sunday, November 20th. Macquarie reissued an “outperform” rating and issued a $7.00 price target on shares of Sprint Corp. in a research note on Friday, September 23rd. Wells Fargo & Co. reissued an “outperform” rating and issued a $9.00 price target on shares of Sprint Corp. in a research note on Sunday, August 21st. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating on shares of Sprint Corp. in a research note on Tuesday, August 16th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.68.

In other news, VP Paul W. Schieber, Jr. sold 52,375 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $7.36, for a total value of $385,480.00. Following the transaction, the vice president now owns 205,808 shares of the company’s stock, valued at approximately $1,514,746.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Roger Sole-Rafols sold 49,844 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $7.53, for a total value of $375,325.32. Following the completion of the transaction, the insider now directly owns 1,516,241 shares in the company, valued at approximately $11,417,294.73. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in S. First Trust Advisors LP raised its position in shares of Sprint Corp. by 78,073.3% in the second quarter. First Trust Advisors LP now owns 20,373,523 shares of the cell phone carrier’s stock valued at $92,292,000 after buying an additional 20,347,461 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Sprint Corp. by 26.6% in the second quarter. Primecap Management Co. CA now owns 36,561,800 shares of the cell phone carrier’s stock valued at $165,625,000 after buying an additional 7,671,300 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Sprint Corp. during the second quarter valued at $24,937,000. Morgan Stanley raised its position in shares of Sprint Corp. by 54.0% in the third quarter. Morgan Stanley now owns 14,231,691 shares of the cell phone carrier’s stock valued at $94,356,000 after buying an additional 4,990,833 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Sprint Corp. by 26.1% in the second quarter. BlackRock Fund Advisors now owns 17,746,561 shares of the cell phone carrier’s stock valued at $80,392,000 after buying an additional 3,676,883 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

Shares of Sprint Corp. (NYSE:S) opened at 7.84 on Thursday. The firm’s market capitalization is $31.21 billion. Sprint Corp. has a 12 month low of $2.18 and a 12 month high of $8.11. The firm’s 50-day moving average is $6.95 and its 200 day moving average is $5.73.

Sprint Corp. (NYSE:S) last announced its quarterly earnings data on Tuesday, October 25th. The cell phone carrier reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Sprint Corp. had a negative net margin of 5.65% and a negative return on equity of 8.91%. The firm had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.69 billion. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Sprint Corp. will post ($0.83) EPS for the current year.

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About Sprint Corp.

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.

5 Day Chart for NYSE:S

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