Bank of New York Mellon Corp Increases Position in Sprint Co. (S)

Bank of New York Mellon Corp lifted its holdings in shares of Sprint Co. (NYSE:S) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,682,775 shares of the cell phone carrier’s stock after purchasing an additional 87,274 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of Sprint worth $21,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commerce Bank purchased a new stake in Sprint in the third quarter worth $100,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Sprint in the third quarter worth $141,000. Americafirst Capital Management LLC purchased a new stake in shares of Sprint in the third quarter worth $156,000. Capital Bank & Trust Co grew its stake in shares of Sprint by 10,821.7% in the third quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after acquiring an additional 21,427 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Sprint during the fourth quarter valued at $188,000. 13.64% of the stock is owned by institutional investors.

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Sprint stock traded down $0.12 during midday trading on Thursday, reaching $5.88. The company’s stock had a trading volume of 12,982,565 shares, compared to its average volume of 15,690,745. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. Sprint Co. has a fifty-two week low of $4.81 and a fifty-two week high of $9.22. The stock has a market cap of $24,098.29, a PE ratio of -21.00 and a beta of 0.68.

Sprint (NYSE:S) last released its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter last year, the company posted ($0.46) earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. research analysts expect that Sprint Co. will post -0.01 earnings per share for the current fiscal year.

In related news, major shareholder Group Corp Softbank purchased 6,149,090 shares of Sprint stock in a transaction dated Tuesday, January 16th. The stock was bought at an average cost of $5.68 per share, for a total transaction of $34,926,831.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

S has been the topic of several recent research reports. ValuEngine raised Sprint from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Bank of America raised their price target on Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a report on Monday, February 5th. Barclays restated a “hold” rating and set a $5.00 price target on shares of Sprint in a report on Friday, January 19th. TheStreet upgraded Sprint from a “d+” rating to a “c” rating in a report on Friday, February 2nd. Finally, Guggenheim assumed coverage on Sprint in a research note on Tuesday, March 13th. They set a “sell” rating and a $4.50 price target for the company. Ten analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Sprint presently has a consensus rating of “Hold” and an average price target of $6.02.

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About Sprint

Sprint Corporation, through 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 U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.

Institutional Ownership by Quarter for Sprint (NYSE:S)

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