Discovery Capital Management LLC CT Sells 3,101,350 Shares of Sprint Corporation (S)
Discovery Capital Management LLC CT lowered its position in shares of Sprint Corporation (NYSE:S) by 10.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,629,336 shares of the cell phone carrier’s stock after selling 3,101,350 shares during the period. Sprint Corporation accounts for 5.3% of Discovery Capital Management LLC CT’s portfolio, making the stock its 4th biggest holding. Discovery Capital Management LLC CT owned about 0.67% of Sprint Corporation worth $218,627,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI bought a new position in shares of Sprint Corporation during the second quarter worth about $836,000. QCM Cayman Ltd. bought a new position in shares of Sprint Corporation during the second quarter worth about $280,000. Numeric Investors LLC grew its position in shares of Sprint Corporation by 56.1% during the second quarter. Numeric Investors LLC now owns 240,100 shares of the cell phone carrier’s stock worth $1,971,000 after acquiring an additional 86,300 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sprint Corporation by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,075,012 shares of the cell phone carrier’s stock worth $58,083,000 after acquiring an additional 50,302 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. bought a new position in shares of Sprint Corporation during the second quarter worth about $3,994,000. Institutional investors and hedge funds own 13.95% of the company’s stock.
S has been the subject of a number of recent analyst reports. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Jefferies Group LLC reiterated a “sell” rating and issued a $5.00 target price on shares of Sprint Corporation in a research report on Friday, July 14th. Cowen and Company reiterated a “hold” rating and issued a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, July 19th. BidaskClub lowered shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $10.26.
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Sprint Corporation (S) traded up 0.39% during mid-day trading on Friday, reaching $7.78. 13,763,863 shares of the company’s stock were exchanged. The stock’s market cap is $31.10 billion. The stock has a 50-day moving average price of $8.20 and a 200-day moving average price of $8.31. Sprint Corporation has a 52 week low of $5.83 and a 52 week high of $9.65.
Sprint Corporation (NYSE:S) last issued 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 firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter last year, the business earned ($0.08) earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Sprint Corporation will post ($0.83) earnings per share for the current year.
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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