Sprint Co. (S) Short Interest Up 3.5% in March

Sprint Co. (NYSE:S) was the target of a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 116,208,853 shares, a growth of 3.5% from the March 15th total of 112,254,776 shares. Currently, 20.3% of the company’s shares are short sold. Based on an average trading volume of 12,412,697 shares, the short-interest ratio is presently 9.4 days.

A number of analysts have recently issued reports on S shares. Macquarie lowered shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 target price for the company. in a research note on Tuesday, January 23rd. Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 target price for the company. in a research note on Thursday, January 4th. Barclays reissued a “hold” rating and set a $5.00 target price on shares of Sprint in a research note on Friday, January 19th. Bank of America upped their price objective on shares of Sprint from $2.60 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, February 5th. Finally, TheStreet lowered shares of Sprint from a “c-” rating to a “d+” rating in a research note on Tuesday, December 19th. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.02.

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S stock opened at $5.78 on Monday. The stock has a market cap of $23,537.86, a price-to-earnings ratio of -20.64 and a beta of 0.68. Sprint has a one year low of $4.81 and a one year high of $9.22. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.25.

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

In other news, major shareholder Group Corp Softbank acquired 6,149,090 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were acquired at an average price of $5.68 per share, for a total transaction of $34,926,831.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Sprint by 19.8% during the fourth 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 holdings in shares of Sprint by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,706,246 shares of the cell phone carrier’s stock valued at $27,698,000 after acquiring an additional 69,950 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Sprint during the fourth quarter valued at about $26,207,000. Bank of New York Mellon Corp increased its holdings in shares of Sprint by 2.4% during the fourth 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 acquiring an additional 87,274 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Sprint by 18.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,519,227 shares of the cell phone carrier’s stock valued at $20,728,000 after acquiring an additional 555,108 shares in the last quarter. 13.64% of the stock is owned by institutional investors and hedge funds.

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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.

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