Group Corp Softbank Buys 4,322,990 Shares of Sprint Corporation (S) Stock

Sprint Corporation (NYSE:S) major shareholder Group Corp Softbank purchased 4,322,990 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were bought at an average price of $6.21 per share, for a total transaction of $26,845,767.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Group Corp Softbank also recently made the following trade(s):

  • On Monday, November 13th, Group Corp Softbank purchased 3,203,661 shares of Sprint Corporation stock. The shares were bought at an average price of $6.12 per share, for a total transaction of $19,606,405.32.
  • On Tuesday, November 7th, Group Corp Softbank purchased 6,484,367 shares of Sprint Corporation stock. The shares were bought at an average price of $5.92 per share, for a total transaction of $38,387,452.64.

Shares of Sprint Corporation (NYSE:S) opened at $5.93 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.03 and a current ratio of 1.10. Sprint Corporation has a one year low of $5.62 and a one year high of $9.65.

Sprint Corporation (NYSE:S) last released its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $8.05 billion. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS. sell-side analysts anticipate that Sprint Corporation will post -0.02 earnings per share for the current fiscal year.

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A number of analysts have recently weighed in on the company. Moffett Nathanson reiterated a “sell” rating on shares of Sprint Corporation in a research report on Thursday, October 12th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen and Company reissued a “hold” rating and issued a $6.50 price objective on shares of Sprint Corporation in a report on Wednesday, July 19th. BidaskClub lowered Sprint Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, ValuEngine lowered Sprint Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.65.

Several institutional investors and hedge funds have recently added to or reduced their stakes in S. Principal Financial Group Inc. boosted its stake in shares of Sprint Corporation by 47.0% during the 1st quarter. Principal Financial Group Inc. now owns 149,887 shares of the cell phone carrier’s stock worth $1,301,000 after acquiring an additional 47,953 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Sprint Corporation by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 1,446,776 shares of the cell phone carrier’s stock worth $12,558,000 after acquiring an additional 39,603 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Sprint Corporation by 9.4% during the 1st quarter. Amalgamated Bank now owns 41,139 shares of the cell phone carrier’s stock worth $357,000 after acquiring an additional 3,540 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Sprint Corporation by 10.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,056,114 shares of the cell phone carrier’s stock valued at $9,168,000 after purchasing an additional 99,063 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Sprint Corporation by 16.8% in the first quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock valued at $5,605,000 after purchasing an additional 93,034 shares in the last quarter. 13.80% of the stock is owned by institutional investors and hedge funds.

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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