Stratos Wealth Partners LTD. Acquires 2,210 Shares of Sprint Corporation (NYSE:S)
Stratos Wealth Partners LTD. raised its position in shares of Sprint Corporation (NYSE:S) by 17.0% during the second quarter, Holdings Channel reports. The firm owned 15,188 shares of the cell phone carrier’s stock after buying an additional 2,210 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sprint Corporation were worth $125,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after buying an additional 38,431,100 shares during the period. Vanguard Group Inc. raised its position in Sprint Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock worth $326,977,000 after buying an additional 1,823,591 shares during the period. Primecap Management Co. CA raised its position in Sprint Corporation by 0.7% in the first quarter. Primecap Management Co. CA now owns 36,683,700 shares of the cell phone carrier’s stock worth $318,415,000 after buying an additional 242,400 shares during the period. State Street Corp raised its position in Sprint Corporation by 1.7% in the first quarter. State Street Corp now owns 14,713,069 shares of the cell phone carrier’s stock worth $127,704,000 after buying an additional 243,184 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Sprint Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,024,710 shares of the cell phone carrier’s stock worth $60,959,000 after buying an additional 188,345 shares during the period. 14.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Sprint Corporation (NYSE S) opened at 8.31 on Friday. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. The company’s market capitalization is $33.21 billion. The company has a 50 day moving average price of $8.33 and a 200 day moving average price of $8.47.
Sprint Corporation (NYSE:S) last released its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same period in the prior year, the business posted ($0.08) EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current year.
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S has been the subject of a number of recent research reports. ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. SunTrust Banks, Inc. initiated coverage on shares of Sprint Corporation in a report on Tuesday, April 18th. They issued a “hold” rating and a $9.00 target price for the company. HSBC Holdings plc reissued a “reduce” rating and issued a $7.20 target price on shares of Sprint Corporation in a report on Friday, June 16th. Finally, Cowen and Company reissued a “market perform” rating and issued a $6.50 target price on shares of Sprint Corporation in a report on Wednesday, August 2nd. Seven 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. The stock currently has an average rating of “Hold” and an average price target of $9.89.
In related news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.
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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