Sprint Corporation Sees Unusually High Options Volume (S)
Sprint Corporation (NYSE:S) was the target of unusually large options trading activity on Wednesday. Traders acquired 2,058 put options on the company. This represents an increase of 459% compared to the typical volume of 368 put options.
S has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Royal Bank Of Canada reiterated a “hold” rating and issued a $8.00 price target on shares of Sprint Corporation in a research report on Sunday, July 9th. Cowen and Company reiterated a “hold” rating and issued a $6.50 price target on shares of Sprint Corporation in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.26.
Sprint Corporation (NYSE S) opened at 7.69 on Friday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The firm’s 50-day moving average is $8.21 and its 200 day moving average is $8.33. The company’s market cap is $30.74 billion.
Sprint Corporation (NYSE:S) last announced its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in Sprint Corporation during the 1st quarter worth $1,023,000. Gateway Investment Advisers LLC boosted its stake in Sprint Corporation by 132.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 97,701 shares of the cell phone carrier’s stock worth $802,000 after purchasing an additional 55,704 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Sprint Corporation during the 1st quarter worth $1,792,000. Bank of America Corp DE boosted its stake in Sprint Corporation by 16.8% during the 1st quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock worth $5,605,000 after purchasing an additional 93,034 shares during the last quarter. Finally, Highstreet Asset Management Inc. boosted its stake in Sprint Corporation by 16.5% during the 1st quarter. Highstreet Asset Management Inc. now owns 79,718 shares of the cell phone carrier’s stock worth $692,000 after purchasing an additional 11,303 shares during the last quarter. 13.96% 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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