Sprint Corp (NYSE:S) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 24,036 call options on the company. This represents an increase of 492% compared to the typical daily volume of 4,057 call options.
Several analysts have recently issued reports on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $6.00 price target on shares of Sprint Corp in a research report on Friday, January 27th. Vetr raised shares of Sprint Corp from a “buy” rating to a “strong-buy” rating and set a $9.45 price target on the stock in a research report on Monday, February 6th. Jefferies Group LLC boosted their price target on shares of Sprint Corp from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Wednesday, February 1st. Cowen and Company lowered their price target on shares of Sprint Corp from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, May 4th. Finally, Moffett Nathanson reaffirmed a “sell” rating and set a $49.00 target price on shares of Sprint Corp in a report on Wednesday, February 1st. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.18.
Several hedge funds have recently modified their holdings of S. Boothbay Fund Management LLC increased its stake in shares of Sprint Corp by 8.3% in the fourth quarter. Boothbay Fund Management LLC now owns 12,187 shares of the cell phone carrier’s stock worth $103,000 after buying an additional 937 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Sprint Corp by 45.1% in the third quarter. Checchi Capital Advisers LLC now owns 18,696 shares of the cell phone carrier’s stock worth $124,000 after buying an additional 5,809 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Sprint Corp by 60.4% in the first quarter. Advisors Asset Management Inc. now owns 14,491 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 5,459 shares during the period. Sigma Planning Corp bought a new stake in shares of Sprint Corp during the first quarter worth about $135,000. Finally, Mackenzie Financial Corp increased its stake in shares of Sprint Corp 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. 14.35% of the stock is owned by institutional investors and hedge funds.
Shares of Sprint Corp (NYSE:S) opened at 8.07 on Friday. The stock’s market cap is $32.18 billion. Sprint Corp has a 52 week low of $3.46 and a 52 week high of $9.65. The stock has a 50 day moving average of $8.35 and a 200-day moving average of $8.35.
Sprint Corp (NYSE:S) last issued its earnings results on Wednesday, May 3rd. The cell phone carrier reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.03. Sprint Corp had a negative return on equity of 7.23% and a negative net margin of 4.49%. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same period last year, the business earned ($0.14) earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts predict that Sprint Corp will post ($0.83) earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Traders Buy High Volume of Sprint Corp Call Options (S)” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://sportsperspectives.com/2017/05/20/stock-traders-purchase-high-volume-of-sprint-corp-call-options-s-updated-updated.html.
About Sprint Corp
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.
Receive News & Ratings for Sprint Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corp and related companies with MarketBeat.com's FREE daily email newsletter.