BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 75,000 Shares of Sprint Corp (S)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Sprint Corp (NYSE:S) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,824 shares of the cell phone carrier’s stock after buying an additional 75,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sprint were worth $4,425,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Wetherby Asset Management Inc. bought a new position in Sprint during the 2nd quarter worth $100,000. Financial Counselors Inc. grew its holdings in shares of Sprint by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares in the last quarter. Commerce Bank acquired a new stake in shares of Sprint during the 3rd quarter worth $100,000. Advisors Asset Management Inc. grew its holdings in shares of Sprint by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after purchasing an additional 318 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sprint during the 2nd quarter worth $125,000. Hedge funds and other institutional investors own 13.74% of the company’s stock.
Sprint Corp (NYSE S) traded up $0.01 during trading hours on Thursday, reaching $5.69. The company had a trading volume of 19,069,100 shares, compared to its average volume of 15,214,931. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. Sprint Corp has a fifty-two week low of $5.42 and a fifty-two week high of $9.65.
Sprint (NYSE:S) last released its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. Sprint’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. equities analysts predict that Sprint Corp will post -0.03 EPS for the current fiscal year.
Several analysts have recently issued reports on the company. Moffett Nathanson reissued a “sell” rating on shares of Sprint in a report on Thursday, October 12th. Nomura reissued a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of Sprint in a report on Thursday, October 26th. ValuEngine lowered Sprint from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Oppenheimer reissued a “hold” rating on shares of Sprint in a report on Wednesday, September 20th. Finally, Macquarie reissued a “hold” rating and set a $6.50 target price on shares of Sprint in a report on Tuesday, November 7th. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.10.
In other news, major shareholder Group Corp Softbank bought 4,322,990 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $6.21 per share, for a total transaction of $26,845,767.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dow Draper sold 292,707 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $5.71, for a total value of $1,671,356.97. Following the completion of the transaction, the insider now owns 1,165,158 shares of the company’s stock, valued at $6,653,052.18. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 18,651,252 shares of company stock valued at $112,608,289 and sold 769,195 shares valued at $4,550,618. 0.18% of the stock is currently owned by company insiders.
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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