CIBC Asset Management Inc Continues to Hold Position in Sprint Corporation (NYSE:S)
CIBC Asset Management Inc continued to hold its stake in shares of Sprint Corporation (NYSE:S) during the second quarter, Holdings Channel reports. The firm owned 146,416 shares of the cell phone carrier’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in Sprint Corporation were worth $1,202,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in Sprint Corporation by 60.4% in the first quarter. Advisors Asset Management Inc. now owns 14,491 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 5,459 shares during the period. Janney Montgomery Scott LLC bought a new position in Sprint Corporation during the second quarter valued at $125,000. Sigma Planning Corp bought a new position in Sprint Corporation during the first quarter valued at $135,000. Mackenzie Financial Corp raised its position in Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock valued at $136,000 after buying an additional 854 shares during the period. Finally, Tyers Asset Management LLC raised its position in Sprint Corporation by 475.3% in the first quarter. Tyers Asset Management LLC now owns 17,120 shares of the cell phone carrier’s stock valued at $149,000 after buying an additional 14,144 shares during the period. 14.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sprint Corporation (NYSE:S) opened at 8.31 on Friday. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. The company’s market capitalization is $33.21 billion. The company has a 50-day moving average price of $8.33 and a 200 day moving average price of $8.47.
Sprint Corporation (NYSE:S) last released its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period last year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current year.
Several research firms have weighed in on S. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen and Company reaffirmed a “market perform” rating and set a $6.50 price target on shares of Sprint Corporation in a research report on Tuesday. BidaskClub lowered Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Barclays PLC reaffirmed a “neutral” rating and set a $8.00 price target on shares of Sprint Corporation in a research report on Wednesday. Finally, UBS AG reaffirmed a “neutral” rating and set a $9.00 price target on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corporation presently has an average rating of “Hold” and an average target price of $9.89.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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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