Investors Buy Large Volume of Call Options on Sprint Corporation (S)
Sprint Corporation (NYSE:S) saw unusually large options trading on Monday. Investors acquired 17,111 call options on the company. This is an increase of approximately 361% compared to the average daily volume of 3,710 call options.
Shares of Sprint Corporation (NYSE S) opened at 8.30 on Thursday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The company’s 50-day moving average price is $8.35 and its 200-day moving average price is $8.45. The company’s market capitalization is $33.17 billion.
Sprint Corporation (NYSE:S) last posted its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts forecast that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
S has been the subject of a number of analyst reports. Vetr cut Sprint Corporation from a “buy” rating to a “hold” rating and set a $9.26 price target for the company. in a research report on Tuesday, April 25th. Macquarie boosted their price target on Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Cowen and Company reduced their price target on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, May 4th. TheStreet raised Sprint Corporation from a “d+” rating to a “c+” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine raised Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Sprint Corporation presently has a consensus rating of “Hold” and a consensus target price of $9.89.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of S. Wetherby Asset Management Inc. acquired a new stake in shares of Sprint Corporation during the second quarter valued at $100,000. Financial Counselors Inc. boosted its stake in shares of Sprint Corporation by 1.7% in the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after buying an additional 201 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Sprint Corporation during the second quarter valued at $108,000. Advisors Asset Management Inc. boosted its stake 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 valued at $122,000 after buying an additional 318 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sprint Corporation during the second quarter valued at $125,000. 14.29% of the stock is currently owned by institutional investors.
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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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