Traders Purchase High Volume of Call Options on Sprint Corp. (S)
Sprint Corp. (NYSE:S) saw unusually large options trading activity on Monday. Investors acquired 6,990 call options on the company, AnalystRatings.Net reports. This is an increase of 112% compared to the average volume of 3,304 call options.
In other Sprint Corp. news, major shareholder Corp Softbank purchased 1,954,015 shares of Sprint Corp. stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average cost of $6.72 per share, for a total transaction of $13,130,980.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Sprint Corp. (NYSE:S) in a research note to investors on Tuesday, September 17th. They set an “underperform” rating and a $5.50 price target on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of Sprint Corp. (NYSE:S) in a research note to investors on Monday, September 9th. They set an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sprint Corp. (NYSE:S) in a research note to investors on Friday, August 23rd. They now have a $7.25 price target on the stock.
Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.89.
Sprint Corp. (NYSE:S) traded down 1.76% on Monday, hitting $6.15. The stock had a trading volume of 30,041,222 shares. Sprint Corp. has a 52 week low of $5.61 and a 52 week high of $7.26. The stock has a 50-day moving average of $6. and a 200-day moving average of $6.54. The company’s market cap is $24.154 billion.
Sprint Corp. (NYSE:S) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.53) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.28) by $0.25. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter last year, the company posted ($0.46) earnings per share. Sprint Corp.’s revenue was up .4% compared to the same quarter last year.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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