Sprint Corp (S) Sees Significant Growth in Short Interest

Sprint Corp (NYSE:S) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 102,989,327 shares, a growth of 5.1% from the October 31st total of 98,029,445 shares. Based on an average daily trading volume, of 16,761,790 shares, the short-interest ratio is presently 6.1 days. Approximately 17.6% of the company’s shares are short sold.

In related news, insider Jorge Enrique Gracia sold 129,652 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald D. Fisher sold 327,525 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the completion of the transaction, the director now owns 2,419,275 shares in the company, valued at approximately $14,999,505. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in Sprint by 10.5% in the third quarter. Toronto Dominion Bank now owns 88,162 shares of the cell phone carrier’s stock worth $577,000 after purchasing an additional 8,369 shares during the period. Rehmann Capital Advisory Group boosted its holdings in Sprint by 343.3% in the third quarter. Rehmann Capital Advisory Group now owns 11,556 shares of the cell phone carrier’s stock worth $1,767,000 after purchasing an additional 8,949 shares during the period. Janus Henderson Group PLC boosted its holdings in Sprint by 7.0% in the third quarter. Janus Henderson Group PLC now owns 137,455 shares of the cell phone carrier’s stock worth $899,000 after purchasing an additional 8,988 shares during the period. Keybank National Association OH boosted its holdings in Sprint by 3.9% in the second quarter. Keybank National Association OH now owns 247,329 shares of the cell phone carrier’s stock worth $1,345,000 after purchasing an additional 9,252 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Sprint by 6.9% in the second quarter. CIBC Asset Management Inc now owns 166,225 shares of the cell phone carrier’s stock worth $904,000 after purchasing an additional 10,728 shares during the period. 12.74% of the stock is owned by institutional investors and hedge funds.

S stock opened at $6.28 on Monday. Sprint has a twelve month low of $4.81 and a twelve month high of $6.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.05. The company has a market cap of $25.14 billion, a PE ratio of 89.71, a P/E/G ratio of 6.22 and a beta of 0.80.

Sprint (NYSE:S) last released its quarterly earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Sprint will post 0.05 EPS for the current year.

S has been the subject of several recent research reports. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday, November 27th. ValuEngine raised shares of Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.65.

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Sprint Company Profile

Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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