Korea Investment CORP lifted its position in Sprint Corp (NYSE:S) by 414.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,930,900 shares of the cell phone carrier’s stock after buying an additional 1,555,800 shares during the quarter. Korea Investment CORP’s holdings in Sprint were worth $12,628,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in S. Odey Asset Management Group Ltd boosted its position in Sprint by 24.6% during the second quarter. Odey Asset Management Group Ltd now owns 17,061,000 shares of the cell phone carrier’s stock worth $92,812,000 after purchasing an additional 3,366,000 shares during the period. Alpine Associates Management Inc. boosted its position in Sprint by 298.9% during the third quarter. Alpine Associates Management Inc. now owns 7,206,000 shares of the cell phone carrier’s stock worth $47,126,000 after purchasing an additional 5,399,600 shares during the period. Scout Investments Inc. boosted its position in Sprint by 1.5% during the third quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock worth $40,342,000 after purchasing an additional 90,940 shares during the period. Northern Trust Corp boosted its position in Sprint by 2.0% during the second quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock worth $30,118,000 after purchasing an additional 107,441 shares during the period. Finally, Carillon Tower Advisers Inc. boosted its position in Sprint by 7.6% during the second quarter. Carillon Tower Advisers Inc. now owns 3,907,649 shares of the cell phone carrier’s stock worth $21,258,000 after purchasing an additional 274,599 shares during the period. 12.74% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Tuesday. ValuEngine raised Sprint from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Sprint presently has a consensus rating of “Hold” and a consensus target price of $5.65.
In related news, Director Ronald D. Fisher sold 327,525 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $6.20, for a total value of $2,030,655.00. Following the completion of the transaction, the director now owns 2,419,275 shares of the company’s stock, valued at $14,999,505. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jorge Enrique Gracia sold 129,652 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
S stock opened at $6.28 on Friday. The stock has a market capitalization of $25.30 billion, a P/E ratio of 70.22, a P/E/G ratio of 6.26 and a beta of 0.80. Sprint Corp has a 52 week low of $4.81 and a 52 week high of $6.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.05.
Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.95 billion. Sprint had a return on equity of 1.36% and a net margin of 23.12%. Sprint’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, sell-side analysts predict that Sprint Corp will post 0.05 earnings per share for the current fiscal year.
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Sprint Company Profile
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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