Sprint (S) Sees Large Volume Increase

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Sprint Corp (NYSE:S) shares saw unusually-high trading volume on Tuesday . Approximately 1,415,469 shares traded hands during mid-day trading, a decline of 92% from the previous session’s volume of 16,920,496 shares.The stock last traded at $7.20 and had previously closed at $7.34.

A number of research firms have issued reports on S. Cowen reiterated a “hold” rating and set a $4.50 price target on shares of Sprint in a research note on Monday, February 4th. Raymond James downgraded Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 price target for the company. in a research note on Monday, April 29th. ValuEngine downgraded Sprint from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. William Blair reiterated an “underperform” rating on shares of Sprint in a research note on Monday, February 11th. Finally, Macquarie reiterated a “hold” rating and set a $5.50 price target on shares of Sprint in a research note on Sunday, May 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.71.

The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $29.02 billion, a P/E ratio of 724.00 and a beta of 0.47.

Sprint (NYSE:S) last posted its earnings results on Tuesday, May 7th. The cell phone carrier reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.19 billion. During the same period in the prior year, the business earned $0.02 EPS. Sprint’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Sprint Corp will post -0.07 earnings per share for the current year.

In related news, CTO John Saw sold 62,444 shares of Sprint stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $5.96, for a total value of $372,166.24. Following the sale, the chief technology officer now owns 1,090,096 shares of the company’s stock, valued at approximately $6,496,972.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in S. OTA Financial Group L.P. grew its position in Sprint by 137.0% during the 1st quarter. OTA Financial Group L.P. now owns 286,142 shares of the cell phone carrier’s stock worth $1,616,000 after purchasing an additional 165,388 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Sprint during the first quarter worth $70,000. Jane Street Group LLC purchased a new stake in Sprint during the first quarter worth $213,000. BlueCrest Capital Management Ltd purchased a new stake in Sprint during the first quarter worth $1,588,000. Finally, Man Group plc boosted its holdings in Sprint by 1,242.7% during the first quarter. Man Group plc now owns 514,483 shares of the cell phone carrier’s stock worth $2,907,000 after buying an additional 476,166 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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About Sprint (NYSE:S)

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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