Traders Buy High Volume of Sprint Corp Call Options (S)

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.

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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.

12 Month Chart for NYSE:S

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