Short Interest in Sprint Corporation (S) Drops By 5.8%
Sprint Corporation (NYSE:S) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 95,708,141 shares, a decrease of 5.8% from the October 13th total of 101,637,319 shares. Based on an average daily volume of 17,528,201 shares, the short-interest ratio is presently 5.5 days. Approximately 14.6% of the shares of the stock are sold short.
Sprint Corporation (NYSE S) opened at $6.23 on Friday. Sprint Corporation has a 52 week low of $5.62 and a 52 week high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.
Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Sprint Corporation had a negative net margin of 1.82% and a negative return on equity of 3.19%. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the firm posted ($0.04) EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. analysts expect that Sprint Corporation will post -0.02 earnings per share for the current year.
Several equities analysts recently issued reports on S shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, September 20th. Zacks Investment Research raised shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, October 3rd. KeyCorp downgraded shares of Sprint Corporation from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a research note on Monday, November 6th. UBS AG reissued a “buy” rating and set a $7.50 price objective (down previously from $9.00) on shares of Sprint Corporation in a research note on Monday, November 6th. Finally, Vetr downgraded shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective on the stock. in a research note on Thursday, November 2nd. Eight analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.19.
In other Sprint Corporation news, CFO Tarek Robbiati sold 363,529 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the sale, the chief financial officer now owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Group Corp Softbank purchased 4,322,990 shares of Sprint Corporation stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $6.21 per share, for a total transaction of $26,845,767.90. The disclosure for this purchase can be found here. Insiders acquired 16,644,832 shares of company stock worth $100,589,834 in the last ninety days. Insiders own 0.18% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Americafirst Capital Management LLC bought a new position in shares of Sprint Corporation in the 3rd quarter worth about $156,000. Capital Bank & Trust Co lifted its position in shares of Sprint Corporation by 10,821.7% in the 3rd quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after buying an additional 21,427 shares during the last quarter. Cowen Inc. bought a new position in shares of Sprint Corporation in the 3rd quarter worth about $934,000. Magnetar Financial LLC acquired a new stake in shares of Sprint Corporation in the 3rd quarter worth about $771,000. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Sprint Corporation by 1,182.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,235,281 shares of the cell phone carrier’s stock worth $9,609,000 after acquiring an additional 1,138,942 shares during the period. Institutional investors own 13.80% of the company’s stock.
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About Sprint Corporation
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.
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