Commonwealth Bank of Australia lifted its stake in shares of Sprint Corp (NYSE:S) by 98.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,958,074 shares of the cell phone carrier’s stock after purchasing an additional 969,700 shares during the period. Commonwealth Bank of Australia’s holdings in Sprint were worth $10,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keybank National Association OH grew its position in Sprint by 3.9% in the second quarter. Keybank National Association OH now owns 247,329 shares of the cell phone carrier’s stock worth $1,345,000 after buying an additional 9,252 shares during the last quarter. CIBC Asset Management Inc grew its position in Sprint by 6.9% in the second quarter. CIBC Asset Management Inc now owns 166,225 shares of the cell phone carrier’s stock worth $904,000 after buying an additional 10,728 shares during the last quarter. Highstreet Asset Management Inc. grew its position in Sprint by 17.7% in the second quarter. Highstreet Asset Management Inc. now owns 75,878 shares of the cell phone carrier’s stock worth $413,000 after buying an additional 11,427 shares during the last quarter. Financial Counselors Inc. acquired a new position in Sprint in the second quarter worth approximately $100,000. Finally, WINTON GROUP Ltd grew its position in Sprint by 135.3% in the first quarter. WINTON GROUP Ltd now owns 32,122 shares of the cell phone carrier’s stock worth $157,000 after buying an additional 18,468 shares during the last quarter. Institutional investors and hedge funds own 13.05% of the company’s stock.

Several research analysts have issued reports on S shares. Wells Fargo & Co restated a “buy” rating on shares of Sprint in a research report on Thursday, June 28th. Barclays started coverage on shares of Sprint in a research report on Wednesday, June 27th. They issued an “equal weight” rating and a $6.00 price target on the stock. SunTrust Banks decreased their price target on shares of Sprint to $6.50 and set a “hold” rating on the stock in a research report on Tuesday, May 8th. ValuEngine upgraded shares of Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Raymond James upgraded shares of Sprint from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.19 to $7.50 in a research report on Wednesday, June 13th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.95.

In other Sprint news, insider John Saw sold 260,095 shares of Sprint stock in a transaction on Monday, August 20th. The shares were sold at an average price of $6.14, for a total transaction of $1,596,983.30. Following the completion of the sale, the insider now owns 1,333,982 shares of the company’s stock, valued at approximately $8,190,649.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

Sprint stock opened at $6.10 on Wednesday. Sprint Corp has a 52 week low of $4.81 and a 52 week high of $8.55. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.15 and a quick ratio of 1.10. The company has a market capitalization of $24.46 billion, a P/E ratio of 87.14 and a beta of 0.77.

Sprint (NYSE:S) last posted its quarterly earnings data on Wednesday, August 1st. The cell phone carrier reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The firm had revenue of $8.13 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business posted $0.05 EPS. The company’s revenue was down .4% on a year-over-year basis. equities analysts forecast that Sprint Corp will post -0.05 EPS for the current year.

Sprint Profile

Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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Institutional Ownership by Quarter for Sprint (NYSE:S)

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