Insider Buying: Sprint Corporation (S) Major Shareholder Acquires $5,758,666.20 in Stock
Sprint Corporation (NYSE:S) major shareholder Group Corp Softbank bought 961,380 shares of the stock in a transaction on Thursday, November 30th. The stock was purchased at an average price of $5.99 per share, for a total transaction of $5,758,666.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Group Corp Softbank also recently made the following trade(s):
- On Wednesday, November 15th, Group Corp Softbank bought 2,633,814 shares of Sprint stock. The stock was purchased at an average price of $5.98 per share, for a total transaction of $15,750,207.72.
- On Monday, November 13th, Group Corp Softbank bought 3,203,661 shares of Sprint stock. The stock was purchased at an average price of $6.12 per share, for a total transaction of $19,606,405.32.
- On Thursday, November 9th, Group Corp Softbank bought 4,322,990 shares of Sprint stock. The stock was purchased at an average price of $6.21 per share, for a total transaction of $26,845,767.90.
- On Tuesday, November 7th, Group Corp Softbank bought 6,484,367 shares of Sprint stock. The stock was purchased at an average price of $5.92 per share, for a total transaction of $38,387,452.64.
Sprint Corporation (S) opened at $5.97 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. Sprint Corporation has a one year low of $5.62 and a one year high of $9.65.
Sprint (NYSE:S) last announced its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. equities research analysts predict that Sprint Corporation will post -0.03 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Counselors Inc. boosted its holdings in shares of Sprint by 1.7% in 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. Wetherby Asset Management Inc. purchased a new position in shares of Sprint in the 2nd quarter worth about $100,000. Commerce Bank purchased a new position in shares of Sprint in the 3rd quarter worth about $100,000. Summit Securities Group LLC purchased a new position in shares of Sprint in the 2nd quarter worth about $108,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Sprint by 2.2% in 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. Institutional investors and hedge funds own 13.74% of the company’s stock.
A number of analysts recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Sprint in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Sprint from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, October 3rd. KeyCorp lowered Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a research note on Monday, November 6th. UBS reiterated a “buy” rating and set a $7.50 price objective (down from $9.00) on shares of Sprint in a research note on Monday, November 6th. Finally, Vetr lowered Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective on the stock. in a research note on Thursday, November 2nd. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Sprint has an average rating of “Hold” and a consensus price target of $7.19.
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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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