Caisse DE Depot ET Placement DU Quebec increased its position in shares of Sprint Corp (NYSE:S) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,047,800 shares of the cell phone carrier’s stock after acquiring an additional 248,000 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.08% of Sprint worth $16,580,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Korea Investment CORP acquired a new stake in Sprint during the second quarter worth approximately $2,041,000. Commonwealth Bank of Australia raised its stake in Sprint by 98.1% during the second quarter. Commonwealth Bank of Australia now owns 1,958,074 shares of the cell phone carrier’s stock worth $10,647,000 after purchasing an additional 969,700 shares during the period. Alpine Associates Management Inc. purchased a new position in Sprint during the second quarter worth approximately $9,899,000. Highstreet Asset Management Inc. raised its stake in Sprint by 17.7% during the second quarter. Highstreet Asset Management Inc. now owns 75,878 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 11,427 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new position in Sprint during the second quarter worth approximately $808,000. Hedge funds and other institutional investors own 13.06% of the company’s stock.
In other news, insider John Saw sold 260,095 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $6.14, for a total value of $1,596,983.30. Following the transaction, the insider now owns 1,333,982 shares of the company’s stock, valued at approximately $8,190,649.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.
Shares of S stock opened at $6.09 on Friday. Sprint Corp has a 52 week low of $4.81 and a 52 week high of $8.55. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $24.46 billion, a PE ratio of 87.00 and a beta of 0.78.
Sprint (NYSE:S) last issued its earnings results on Wednesday, August 1st. The cell phone carrier reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. equities analysts expect that Sprint Corp will post -0.05 earnings per share for the current year.
S has been the topic of a number of recent analyst reports. ValuEngine raised shares of Sprint from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Sprint in a research note on Thursday, June 28th. Barclays initiated coverage on shares of Sprint in a research note on Wednesday, June 27th. They set an “equal weight” rating and a $6.00 price target on the stock. Finally, Raymond James raised shares of Sprint from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $5.19 to $7.50 in a research note on Wednesday, June 13th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.95.
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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