Alps Advisors Inc. Purchases 12,701 Shares of Sprint Corporation (S)
Alps Advisors Inc. boosted its stake in Sprint Corporation (NYSE:S) by 110.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,194 shares of the cell phone carrier’s stock after buying an additional 12,701 shares during the period. Alps Advisors Inc.’s holdings in Sprint Corporation were worth $199,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in S. Capstone Asset Management Co. raised its position in Sprint Corporation by 9.2% in the first quarter. Capstone Asset Management Co. now owns 18,432 shares of the cell phone carrier’s stock valued at $160,000 after buying an additional 1,552 shares during the period. Nationwide Fund Advisors bought a new position in Sprint Corporation during the first quarter valued at $2,862,000. Mn Services Vermogensbeheer B.V. raised its position in Sprint Corporation by 5.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 20,647 shares of the cell phone carrier’s stock valued at $168,000 after buying an additional 981 shares during the period. Sigma Planning Corp bought a new position in Sprint Corporation during the first quarter valued at $135,000. Finally, Glen Harbor Capital Management LLC raised its position in Sprint Corporation by 475.3% in the first quarter. Glen Harbor Capital Management LLC now owns 36,380 shares of the cell phone carrier’s stock valued at $316,000 after buying an additional 30,056 shares during the period. Institutional investors and hedge funds own 13.95% of the company’s stock.
Shares of Sprint Corporation (NYSE:S) opened at 8.25 on Thursday. The company’s 50-day moving average price is $8.36 and its 200-day moving average price is $8.42. The firm’s market capitalization is $32.97 billion. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. Sprint Corporation also saw some unusual options trading activity on Wednesday. Traders purchased 2,058 put options on the stock. This is an increase of approximately 459% compared to the typical daily volume of 368 put options.
Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
S has been the topic of several recent research reports. Macquarie raised their target price on Sprint Corporation from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Cowen and Company cut their target price on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, May 4th. TheStreet upgraded Sprint Corporation from a “d+” rating to a “c+” rating in a report on Wednesday, May 3rd. ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.26.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.
Sprint Corporation Company Profile
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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