Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sprint Corporation (NYSE:S) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,437,728 shares of the cell phone carrier’s stock after buying an additional 38,420 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.06% of Sprint Corporation worth $20,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of S. Tyers Asset Management LLC increased 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. purchased a new stake in Sprint Corporation during the first quarter worth $23,360,000. Commerzbank Aktiengesellschaft FI increased 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 increased 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. increased 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 and hedge funds own 13.95% of the company’s stock.

Shares of Sprint Corporation (S) opened at 8.27 on Friday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The firm’s market cap is $33.05 billion. The company has a 50-day moving average of $8.37 and a 200 day moving average of $8.40. Sprint Corporation also saw unusually large options trading on Wednesday. Stock investors acquired 2,058 put options on the stock. This is an increase of 459% compared to the typical daily volume of 368 put options.

Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ 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 in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.

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A number of analysts have weighed in on the stock. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, August 2nd. UBS AG reissued a “neutral” rating and set a $9.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen and Company reissued a “market perform” rating and set a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “sell” rating and set a $5.00 target price on shares of Sprint Corporation in a research report on Friday, July 14th. Finally, ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Sprint Corporation has a consensus rating of “Hold” and an average price target of $10.26.

In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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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Institutional Ownership by Quarter for Sprint Corporation (NYSE:S)

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