Sprint Corporation (S) Short Interest Down 5.2% in August
Sprint Corporation (NYSE:S) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 95,708,496 shares, a decrease of 5.2% from the August 15th total of 100,970,308 shares. Currently, 14.6% of the shares of the company are sold short. Based on an average daily trading volume, of 6,014,874 shares, the short-interest ratio is presently 15.9 days.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Sprint Corporation by 4,924.2% during the 1st quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after purchasing an additional 38,431,100 shares in the last quarter. Vanguard Group Inc. increased its position in Sprint Corporation by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 37,971,867 shares of the cell phone carrier’s stock worth $311,749,000 after purchasing an additional 301,765 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Sprint Corporation by 0.7% in the 1st quarter. Primecap Management Co. CA now owns 36,683,700 shares of the cell phone carrier’s stock worth $318,415,000 after acquiring an additional 242,400 shares during the period. State Street Corp boosted its holdings in Sprint Corporation by 1.7% in the 1st quarter. State Street Corp now owns 14,713,069 shares of the cell phone carrier’s stock worth $127,704,000 after acquiring an additional 243,184 shares during the period. Finally, Odey Asset Management Group Ltd boosted its holdings in Sprint Corporation by 107.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock worth $66,706,000 after acquiring an additional 4,204,955 shares during the period. 13.95% of the stock is owned by hedge funds and other institutional investors.
S has been the topic of several recent analyst reports. ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. HSBC Holdings plc reaffirmed a “reduce” rating and set a $7.20 price objective on shares of Sprint Corporation in a report on Friday, June 16th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corporation has an average rating of “Hold” and a consensus target price of $10.26.
Sprint Corporation (NYSE S) opened at 8.03 on Thursday. The stock’s market cap is $32.09 billion. The stock has a 50 day moving average of $8.20 and a 200 day moving average of $8.31. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65.
Sprint Corporation (NYSE:S) last posted 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. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. Equities analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.
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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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