Sprint Corporation Target of Unusually High Options Trading (NYSE:S)

Sprint Corporation (NYSE:S) saw some unusual options trading on Friday. Traders purchased 12,905 call options on the stock. This is an increase of approximately 182% compared to the typical volume of 4,584 call options.

Sprint Corporation (NYSE S) opened at 8.45 on Wednesday. The company’s 50-day moving average price is $8.28 and its 200-day moving average price is $8.50. The stock’s market cap is $33.72 billion. Sprint Corporation has a one year low of $4.42 and a one year high of $9.65.

Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Wednesday, May 3rd. The cell phone carrier reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.03. Sprint Corporation had a negative return on equity of 5.90% and a negative net margin of 3.62%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same period last year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Sprint Corporation will post ($0.83) EPS for the current fiscal year.

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 price objective on shares of Sprint Corporation in a research note on Sunday, July 9th. Jefferies Group LLC reissued a “sell” rating and set a $5.00 price objective on shares of Sprint Corporation in a research note on Friday, July 14th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Finally, HSBC Holdings plc reaffirmed a “reduce” rating and set a $7.20 price target on shares of Sprint Corporation in a research note on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. Sprint Corporation currently has an average rating of “Hold” and a consensus target price of $9.31.

In related news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Sprint Corporation by 0.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,424 shares of the cell phone carrier’s stock worth $180,000 after buying an additional 98 shares during the period. Ronald Blue & Co. LLC raised its stake in Sprint Corporation by 1.1% in the first quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock worth $185,000 after buying an additional 222 shares during the period. Pacer Advisors Inc. raised its stake in Sprint Corporation by 1.9% in the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after buying an additional 483 shares during the period. World Asset Management Inc raised its stake in Sprint Corporation by 2.9% in the first quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock worth $214,000 after buying an additional 693 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock worth $136,000 after buying an additional 854 shares during the period. 14.32% of the stock is currently owned by institutional investors.

Sprint Corporation 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.