Sprint Corporation (S) Position Lowered by Rhumbline Advisers
Rhumbline Advisers decreased its position in shares of Sprint Corporation (NYSE:S) by 24.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 603,665 shares of the cell phone carrier’s stock after selling 193,229 shares during the period. Rhumbline Advisers’ holdings in Sprint Corporation were worth $4,956,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Tyers Asset Management LLC boosted its stake 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 worth $149,000 after buying an additional 14,144 shares in the last quarter. APG Asset Management N.V. bought a new stake in Sprint Corporation during the first quarter worth approximately $23,360,000. Commerzbank Aktiengesellschaft FI boosted its stake in Sprint Corporation by 51.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 74,219 shares of the cell phone carrier’s stock worth $644,000 after buying an additional 25,196 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Sprint Corporation by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 460,969 shares of the cell phone carrier’s stock worth $3,992,000 after buying an additional 28,508 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Sprint Corporation by 1.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 119,020 shares of the cell phone carrier’s stock worth $1,033,000 after buying an additional 1,713 shares in the last quarter. Institutional investors own 13.95% of the company’s stock.
Sprint Corporation (NYSE S) opened at 8.27 on Friday. The company’s 50-day moving average price is $8.37 and its 200 day moving average price is $8.40. Sprint Corporation has a 12 month low of $5.83 and a 12 month high of $9.65. The firm’s market capitalization is $33.05 billion. Sprint Corporation also saw some unusual options trading on Wednesday. Traders acquired 2,058 put options on the company. This represents an increase of 459% compared to the typical daily volume of 368 put options.
Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating 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 company had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same period last year, the firm earned ($0.08) earnings per share. Sprint Corporation’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that Sprint Corporation will post ($0.83) EPS for the current year.
S has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “sell” rating and set a $5.00 price objective on shares of Sprint Corporation in a research report on Friday, July 14th. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Cowen and Company reissued a “hold” rating and issued a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, July 19th. BidaskClub cut Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. Sprint Corporation currently has an average rating of “Hold” and an average price target of $10.26.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.
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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