Sprint Corporation (NYSE:S) shares traded up 7.7% during mid-day trading on Monday . The company traded as high as $8.55 and last traded at $7.86. 28,535,099 shares traded hands during mid-day trading, an increase of 131% from the average session volume of 12,328,400 shares. The stock had previously closed at $8.52.

Several research analysts recently weighed in on the company. Jefferies Group LLC restated a “sell” rating and set a $5.00 target price on shares of Sprint Corporation in a research note on Friday, July 14th. Wells Fargo & Company restated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Cowen and Company restated a “hold” rating and set a $6.50 target price on shares of Sprint Corporation in a research note on Wednesday, July 19th. BidaskClub downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Goldman Sachs Group Inc restated a “neutral” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Six investment 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. Sprint Corporation presently has a consensus rating of “Hold” and a consensus price target of $10.26.

Sprint Corporation (NYSE:S) last announced its quarterly earnings data 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 analyst estimates of $8.14 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in S. Wetherby Asset Management Inc. purchased a new stake in Sprint Corporation in the 2nd quarter valued at approximately $100,000. Financial Counselors Inc. boosted its holdings in Sprint Corporation by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Sprint Corporation in the 2nd quarter valued at approximately $108,000. Advisors Asset Management Inc. boosted its holdings in Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after purchasing an additional 318 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Sprint Corporation in the 2nd quarter valued at approximately $125,000. 13.95% of the stock is currently owned by institutional investors.

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About Sprint Corporation

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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