Sprint Shares Hit 52-Week High Amid Heavy Insider Trading
Shares of Sprint Nextel Corporation (NYSE:S) jumped to a 52-week high in the last week of July, and on July 30, continued their upward movement, rising 4.5 percent. The climb comes after a long dip for the company, and marks a light at the end of the tunnel for the mobile service provider.
According to MSNBC, although Sprint is still not earning profits, this uptick in shares could be the beginning of renewed growth. The company is working hard to let go of its Nextel wing, which has been sucking revenue away from the company, and its latest quarterly report was slightly more promising.
Still, the media outlet stated, the company has a steep climb ahead, with its price-to-free-cash-flow ratio still much higher than its leading competitors. Spring is also much more expansive than MetroPCS, which the company will need to address if it hopes to continue to take on market share.
With heavy insider trading reported, Sprint's stock could be poised to move significantly one way or the other.
Given the most recent activity, do you think Sprint is something to invest in?
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