Sprint Sees Unusually High Options Volume (NYSE:S)

Sprint Corp (NYSE:S) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 33,248 put options on the stock. This represents an increase of approximately 2,526% compared to the average volume of 1,266 put options.

Several equities analysts have commented on the company. ValuEngine raised Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research lowered Sprint from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.53.

In related news, insider Jorge Enrique Gracia sold 129,652 shares of Sprint stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald D. Fisher sold 327,525 shares of Sprint stock in a transaction on Monday, November 19th. The shares were sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the completion of the sale, the director now owns 2,419,275 shares in the company, valued at approximately $14,999,505. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Counselors Inc. purchased a new position in shares of Sprint in the 2nd quarter worth about $100,000. Oakbrook Investments LLC bought a new stake in Sprint in the 3rd quarter worth about $102,000. Tower Research Capital LLC TRC increased its holdings in Sprint by 1,223.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,855 shares of the cell phone carrier’s stock worth $108,000 after buying an additional 18,355 shares in the last quarter. Schroder Investment Management Group bought a new stake in Sprint in the 3rd quarter worth about $112,000. Finally, Levin Capital Strategies L.P. bought a new stake in Sprint in the 2nd quarter worth about $136,000. 12.74% of the stock is owned by hedge funds and other institutional investors.

Shares of S traded up $0.06 during trading hours on Thursday, hitting $6.14. The company had a trading volume of 8,009,511 shares, compared to its average volume of 17,647,888. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.05. The firm has a market cap of $24.34 billion, a PE ratio of 87.71, a P/E/G ratio of 6.67 and a beta of 0.80. Sprint has a 52-week low of $4.81 and a 52-week high of $6.62.

Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.95 billion. Sprint had a return on equity of 1.36% and a net margin of 23.12%. Sprint’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, sell-side analysts anticipate that Sprint will post 0.05 EPS for the current year.

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About Sprint

Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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