Investors Buy High Volume of Call Options on Sprint Corporation (S)
Sprint Corporation (NYSE:S) was the target of unusually large options trading activity on Monday. Investors purchased 17,111 call options on the company. This represents an increase of 361% compared to the typical daily volume of 3,710 call options.
Shares of Sprint Corporation (NYSE:S) opened at 8.30 on Thursday. Sprint Corporation has a one year low of $5.83 and a one year high of $9.65. The stock’s market cap is $33.17 billion. The stock’s 50 day moving average price is $8.35 and its 200-day moving average price is $8.45.
Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period last year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Sprint Corporation will post ($0.83) earnings per share for the current fiscal year.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.
Several large investors have recently bought and sold shares of S. Financial Counselors Inc. increased its stake in Sprint Corporation 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 buying an additional 201 shares during the period. Ronald Blue & Co. LLC raised its position in shares of Sprint Corporation by 1.1% in the first quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock worth $185,000 after buying an additional 222 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Sprint Corporation by 2.2% in the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after buying an additional 318 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Sprint Corporation by 1.9% in the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after buying an additional 483 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Sprint Corporation by 2.9% in the first quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock worth $214,000 after buying an additional 693 shares in the last quarter. 14.29% of the stock is owned by institutional investors.
A number of research firms recently weighed in on S. BidaskClub lowered shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Macquarie raised their target price on Sprint Corporation from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Cowen and Company reduced their target price on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, May 4th. Finally, Barclays PLC reissued a “neutral” rating and issued a $8.00 target price on shares of Sprint Corporation in a report on Wednesday, August 9th. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.89.
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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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