Russell Investments Group Ltd. lowered its holdings in shares of Sprint Corp (NYSE:S) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,605 shares of the cell phone carrier’s stock after selling 634,786 shares during the period. Russell Investments Group Ltd.’s holdings in Sprint were worth $4,529,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Financial Counselors Inc. boosted its stake in shares of Sprint by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Sprint by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after purchasing an additional 318 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Sprint by 1.9% in the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after purchasing an additional 500 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Sprint by 1.2% in the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after purchasing an additional 802 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Sprint by 4.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock valued at $359,000 after purchasing an additional 1,898 shares in the last quarter. Hedge funds and other institutional investors own 13.74% of the company’s stock.
Several equities research analysts have recently commented on S shares. Zacks Investment Research upgraded shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research note on Tuesday, October 10th. UBS reaffirmed a “buy” rating and issued a $7.50 price target (down from $9.00) on shares of Sprint in a report on Monday, November 6th. Macquarie reaffirmed a “hold” rating and issued a $8.00 price target on shares of Sprint in a report on Thursday, October 26th. KeyCorp cut Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price target for the company. in a report on Monday, November 6th. Finally, Nomura reaffirmed a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of Sprint in a report on Thursday, October 26th. Eight investment 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. Sprint currently has an average rating of “Hold” and a consensus price target of $7.10.
In other Sprint news, insider Jorge Enrique Gracia sold 112,959 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $6.18, for a total transaction of $698,086.62. Following the completion of the sale, the insider now directly owns 858,383 shares of the company’s stock, valued at approximately $5,304,806.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tarek Robbiati sold 363,529 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was 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 directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 18,651,252 shares of company stock valued at $112,608,289 and have sold 769,195 shares valued at $4,550,618. Insiders own 0.18% of the company’s stock.
Shares of Sprint Corp (NYSE:S) traded up $0.01 during trading hours on Thursday, reaching $5.69. The company’s stock had a trading volume of 19,069,100 shares, compared to its average volume of 15,214,931. Sprint Corp has a 12-month low of $5.42 and a 12-month 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 (NYSE:S) last announced its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. sell-side analysts expect that Sprint Corp will post -0.03 EPS for the current year.
Sprint Company Profile
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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