Investors Buy High Volume of Put Options on Sprint (S)
Sprint Corporation (NYSE:S) was the recipient of some unusual options trading on Thursday. Traders bought 24,875 put options on the stock. This is an increase of 619% compared to the typical volume of 3,462 put options.
In other news, major shareholder Group Corp Softbank acquired 4,322,990 shares of Sprint stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $6.21 per share, with a total value of $26,845,767.90. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Tarek Robbiati sold 363,529 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the completion of the transaction, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The disclosure for this sale can be found here. Over the last three months, insiders purchased 17,606,212 shares of company stock valued at $106,348,500. 0.18% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of S. Janus Henderson Group PLC increased its stake in shares of Sprint by 6,509.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock worth $58,944,000 after acquiring an additional 7,070,812 shares during the last quarter. Odey Asset Management Group Ltd grew its holdings in shares of Sprint by 107.3% during the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock worth $66,706,000 after purchasing an additional 4,204,955 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Sprint by 1,182.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,235,281 shares of the cell phone carrier’s stock worth $9,609,000 after purchasing an additional 1,138,942 shares during the period. Naya Capital Management UK Ltd. grew its holdings in shares of Sprint by 67.1% during the 2nd quarter. Naya Capital Management UK Ltd. now owns 2,423,100 shares of the cell phone carrier’s stock worth $19,894,000 after purchasing an additional 973,100 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Sprint by 753.3% during the 2nd quarter. SG Americas Securities LLC now owns 845,293 shares of the cell phone carrier’s stock worth $6,940,000 after purchasing an additional 746,231 shares during the period. 13.74% of the stock is owned by institutional investors and hedge funds.
Sprint (NYSE:S) last issued its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned ($0.04) EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. research analysts predict that Sprint will post -0.03 EPS for the current fiscal year.
Several research analysts recently commented on S shares. Cowen reissued a “market perform” rating and issued a $6.50 price objective on shares of Sprint in a research note on Tuesday, August 8th. Barclays reissued a “neutral” rating and issued a $8.00 price objective on shares of Sprint in a research note on Wednesday, August 9th. BidaskClub downgraded Sprint from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Oppenheimer reissued a “hold” rating on shares of Sprint in a research note on Wednesday, September 20th. Finally, Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Tuesday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.19.
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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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