Sprint Target of Unusually Large Options Trading (S)

Sprint Corp (NYSE:S) was the recipient of unusually large options trading on Wednesday. Stock traders bought 66,170 put options on the company. This is an increase of 1,319% compared to the typical daily volume of 4,663 put options.

Sprint (S) opened at $5.69 on Friday. Sprint has a 1-year low of $5.42 and a 1-year high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. The firm has a market capitalization of $22,760.00, a PE ratio of -37.93 and a beta of 0.79.

Sprint (NYSE:S) last posted its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, beating 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 company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Sprint’s revenue was down 3.9% on a year-over-year basis. equities research analysts forecast that Sprint will post -0.02 EPS for the current year.

Several research firms recently commented on S. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint in a research report on Thursday, October 12th. Nomura reaffirmed a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Sprint in a research report on Thursday, October 26th. ValuEngine cut Sprint from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Oppenheimer reaffirmed a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Finally, Macquarie reaffirmed a “hold” rating and set a $6.50 price objective on shares of Sprint in a research report on Tuesday, November 7th. Seven investment 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. The company currently has an average rating of “Hold” and an average price target of $6.72.

In other news, VP Paul W. Schieber, Jr. sold 144,041 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total value of $826,795.34. Following the sale, the vice president now directly owns 204,168 shares of the company’s stock, valued at $1,171,924.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Group Corp Softbank acquired 6,239,538 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were acquired at an average cost of $5.70 per share, for a total transaction of $35,565,366.60. The disclosure for this purchase can be found here. Over the last three months, insiders bought 66,259,693 shares of company stock worth $386,856,614 and sold 913,236 shares worth $5,377,413. Corporate insiders own 0.18% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Financial Counselors Inc. lifted its holdings in Sprint 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 acquiring an additional 201 shares during the period. Commerce Bank bought a new position in shares of Sprint in the third quarter worth about $100,000. Crossmark Global Holdings Inc. bought a new position in shares of Sprint in the third quarter worth about $141,000. Americafirst Capital Management LLC bought a new position in shares of Sprint in the third quarter worth about $156,000. Finally, Capital Bank & Trust Co raised its stake in shares of Sprint by 10,821.7% in the third quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after buying an additional 21,427 shares during the period. 13.74% of the stock is currently owned by institutional investors.

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Sprint Company Profile

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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