Stock Traders Buy Large Volume of Put Options on Sprint (S)

Sprint Corp (NYSE:S) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 28,201 put options on the company. This represents an increase of 863% compared to the typical daily volume of 2,928 put options.

Several equities analysts recently commented on the stock. Guggenheim assumed coverage on shares of Sprint in a report on Tuesday. They set a “sell” rating and a $4.50 price target on the stock. Citigroup reiterated a “neutral” rating and set a $6.50 price target (down from $7.50) on shares of Sprint in a report on Thursday, February 8th. TheStreet upgraded shares of Sprint from a “d+” rating to a “c” rating in a report on Friday, February 2nd. Bank of America upped their price target on shares of Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a report on Monday, February 5th. Finally, Cowen reiterated a “hold” rating on shares of Sprint in a report on Monday, February 5th. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.02.

Sprint (NYSE S) opened at $5.29 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. Sprint has a one year low of $4.91 and a one year high of $9.22.

Sprint (NYSE:S) last issued its earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) EPS. equities research analysts expect that Sprint will post 1.75 EPS for the current year.

In other Sprint news, major shareholder Group Corp Softbank bought 6,149,090 shares of Sprint stock in a transaction dated Tuesday, January 16th. The shares were purchased at an average cost of $5.68 per share, for a total transaction of $34,926,831.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 53,757,531 shares of company stock worth $309,175,156. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in S. Commerce Bank purchased a new stake in Sprint during the third quarter valued at approximately $100,000. Westside Investment Management Inc. lifted its position in Sprint by 872.7% during the fourth quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock valued at $101,000 after acquiring an additional 15,692 shares during the last quarter. BancorpSouth Bank purchased a new stake in Sprint during the fourth quarter valued at approximately $104,000. Crossmark Global Holdings Inc. purchased a new stake in Sprint during the third quarter valued at approximately $141,000. Finally, Americafirst Capital Management LLC purchased a new stake in Sprint during the third quarter valued at approximately $156,000. 13.63% of the stock is owned by hedge funds and other 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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