Traders Purchase High Volume of Sprint Call Options (NYSE:S)

Sprint Corp (NYSE:S) saw unusually large options trading on Monday. Stock investors acquired 55,945 call options on the stock. This represents an increase of 987% compared to the average daily volume of 5,145 call options.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rational Advisors LLC increased its stake in Sprint by 7,285.3% during the second quarter. Rational Advisors LLC now owns 5,022 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 4,954 shares during the period. CSat Investment Advisory L.P. acquired a new position in shares of Sprint in the second quarter valued at approximately $34,000. NuWave Investment Management LLC grew its holdings in shares of Sprint by 85.8% in the third quarter. NuWave Investment Management LLC now owns 9,329 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 4,307 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Sprint during the 3rd quarter worth approximately $62,000. Finally, Corient Capital Partners LLC purchased a new stake in Sprint during the 2nd quarter worth approximately $71,000. 14.23% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Barclays reiterated a “hold” rating and set a $6.00 price target on shares of Sprint in a report on Tuesday, October 15th. ValuEngine downgraded Sprint from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.31.

Sprint stock opened at $5.74 on Tuesday. The company’s 50 day simple moving average is $6.10 and its 200-day simple moving average is $6.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.71 and a current ratio of 0.78. Sprint has a 1 year low of $5.44 and a 1 year high of $8.06. The company has a market capitalization of $24.31 billion, a price-to-earnings ratio of 574.00 and a beta of 0.29.

Sprint (NYSE:S) last posted its quarterly earnings data on Monday, November 4th. The cell phone carrier reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). Sprint had a negative return on equity of 2.63% and a negative net margin of 8.19%. The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $8.17 billion. During the same period in the previous year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities analysts expect that Sprint will post -0.14 earnings per share for the current year.

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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