Sprint Co. (S) Stake Lowered by Swiss National Bank

Swiss National Bank lowered its holdings in Sprint Co. (NYSE:S) by 12.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,571,551 shares of the cell phone carrier’s stock after selling 373,600 shares during the quarter. Swiss National Bank owned about 0.06% of Sprint worth $12,549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in shares of Sprint by 872.7% in the 4th quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock valued at $101,000 after purchasing an additional 15,692 shares during the period. BancorpSouth Bank acquired a new stake in shares of Sprint in the 4th quarter valued at about $104,000. Delpha Capital Management LLC acquired a new stake in shares of Sprint in the 4th quarter valued at about $131,000. Two Sigma Securities LLC acquired a new stake in shares of Sprint in the 4th quarter valued at about $157,000. Finally, Banco de Sabadell S.A acquired a new stake in shares of Sprint in the 4th quarter valued at about $176,000. Institutional investors and hedge funds own 12.68% of the company’s stock.

In other news, insider John Saw sold 88,319 shares of the firm’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $6.50, for a total value of $574,073.50. Following the completion of the sale, the insider now directly owns 1,149,057 shares of the company’s stock, valued at approximately $7,468,870.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

A number of analysts recently issued reports on the company. ValuEngine cut Sprint from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 16th. SunTrust Banks decreased their target price on Sprint to $6.50 and set a “hold” rating for the company in a research report on Tuesday, May 8th. Jefferies Group raised Sprint from an “underperform” rating to a “hold” rating and set a $4.50 target price for the company in a research report on Tuesday, May 1st. Citigroup upped their target price on Sprint from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Finally, Guggenheim raised Sprint from a “sell” rating to a “neutral” rating and set a $4.50 target price for the company in a research report on Monday, April 30th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.91.

S opened at $5.18 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $20.46 billion, a PE ratio of 127.75 and a beta of 0.66. Sprint Co. has a 12 month low of $4.81 and a 12 month high of $9.02.

Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.09. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Sprint had a return on equity of 0.73% and a net margin of 22.80%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. research analysts forecast that Sprint Co. will post -0.04 EPS for the current fiscal year.

Sprint Profile

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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