AMP Capital Investors Ltd lowered its stake in Sprint Corp (NYSE:S) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,774 shares of the cell phone carrier’s stock after selling 217,300 shares during the quarter. AMP Capital Investors Ltd’s holdings in Sprint were worth $2,083,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Sprint by 19.8% in the 4th quarter. BlackRock Inc. now owns 43,490,226 shares of the cell phone carrier’s stock valued at $256,158,000 after acquiring an additional 7,188,919 shares in the last quarter. Geode Capital Management LLC increased its stake in Sprint by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,706,246 shares of the cell phone carrier’s stock valued at $27,698,000 after purchasing an additional 69,950 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Sprint during the 4th quarter valued at $26,207,000. Bank of New York Mellon Corp increased its stake in Sprint by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,682,775 shares of the cell phone carrier’s stock valued at $21,693,000 after purchasing an additional 87,274 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Sprint by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 3,568,008 shares of the cell phone carrier’s stock valued at $27,759,000 after purchasing an additional 75,465 shares in the last quarter. Institutional investors own 13.62% of the company’s stock.
S stock opened at $4.92 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.92. The stock has a market cap of $20,655.67, a price-to-earnings ratio of 2.84 and a beta of 0.64. Sprint Corp has a fifty-two week low of $4.88 and a fifty-two week high of $9.22.
Sprint (NYSE:S) last posted its quarterly earnings data 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. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.46) EPS. sell-side analysts anticipate that Sprint Corp will post 1.75 earnings per share for the current fiscal year.
A number of analysts have commented on the stock. Guggenheim assumed coverage on shares of Sprint in a research note on Tuesday, March 13th. They set a “sell” rating and a $4.50 price target for the company. Citigroup restated a “neutral” rating and set a $6.50 price target (down previously from $7.50) on shares of Sprint in a research note on Thursday, February 8th. TheStreet upgraded shares of Sprint from a “d+” rating to a “c” rating in a research note on Friday, February 2nd. Bank of America boosted their price target on shares of Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a research note on Monday, February 5th. Finally, Cowen restated a “hold” rating on shares of Sprint in a research note on Monday, February 5th. Ten equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Sprint presently has a consensus rating of “Hold” and an average target price of $6.02.
In other news, major shareholder Group Corp Softbank acquired 4,243,452 shares of the business’s stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $5.94 per share, with a total value of $25,206,104.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 37,827,608 shares of company stock worth $219,274,536 over the last ninety days. Insiders own 0.18% of the company’s stock.
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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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