Investors Buy High Volume of Put Options on Sprint Corporation (S)
Sprint Corporation (NYSE:S) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 2,058 put options on the company. This represents an increase of 459% compared to the average daily volume of 368 put options.
Institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. bought a new stake in shares of Sprint Corporation in the 2nd quarter worth about $100,000. Financial Counselors Inc. lifted its holdings in shares of Sprint Corporation by 1.7% in 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. Summit Securities Group LLC bought a new stake in shares of Sprint Corporation in the 2nd quarter worth about $108,000. Advisors Asset Management Inc. lifted its holdings in shares of Sprint Corporation by 60.4% in the 1st quarter. Advisors Asset Management Inc. now owns 14,491 shares of the cell phone carrier’s stock worth $126,000 after acquiring an additional 5,459 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Sprint Corporation by 17.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock worth $125,000 after acquiring an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 13.96% of the company’s stock.
Sprint Corporation (S) opened at 7.69 on Monday. Sprint Corporation has a 52 week low of $5.83 and a 52 week high of $9.65. The stock’s 50 day moving average is $8.21 and its 200 day moving average is $8.33. The company’s market capitalization is $30.74 billion.
Sprint Corporation (NYSE:S) last released its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. On average, equities research analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.
S has been the subject of a number of research analyst reports. ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. HSBC Holdings plc reaffirmed a “reduce” rating and set a $7.20 price objective on shares of Sprint Corporation in a report on Friday, June 16th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corporation currently has a consensus rating of “Hold” and a consensus price target of $10.26.
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About Sprint Corporation
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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