Caisse DE Depot ET Placement DU Quebec increased its stake in Sprint Corp (NYSE:S) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,218,300 shares of the cell phone carrier’s stock after acquiring an additional 43,800 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Sprint worth $17,331,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp boosted its holdings in shares of Sprint by 39.4% in the third quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock valued at $1,797,000 after acquiring an additional 65,224 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Sprint by 21.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,399,854 shares of the cell phone carrier’s stock valued at $10,891,000 after purchasing an additional 251,351 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Sprint by 2.9% during the third quarter. Commonwealth Bank of Australia now owns 1,163,497 shares of the cell phone carrier’s stock valued at $9,047,000 after purchasing an additional 32,614 shares during the last quarter. Trexquant Investment LP lifted its stake in Sprint by 100.1% during the third quarter. Trexquant Investment LP now owns 36,214 shares of the cell phone carrier’s stock valued at $282,000 after purchasing an additional 18,114 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Sprint by 2.2% during the third quarter. Legal & General Group Plc now owns 3,568,008 shares of the cell phone carrier’s stock valued at $27,759,000 after purchasing an additional 75,465 shares during the last quarter. Institutional investors and hedge funds own 13.74% of the company’s stock.
Several analysts recently commented on S shares. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Tuesday, October 10th. UBS reissued a “buy” rating and set a $7.50 target price (down from $9.00) on shares of Sprint in a research note on Monday, November 6th. Macquarie reissued a “hold” rating and set a $8.00 target price on shares of Sprint in a research note on Thursday, October 26th. KeyCorp lowered shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 target price for the company. in a research note on Monday, November 6th. Finally, Nomura reissued a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of Sprint in a research note on Thursday, October 26th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $7.19.
Shares of Sprint Corp (NYSE:S) traded down $0.05 during trading hours on Thursday, hitting $5.69. 13,794,700 shares of the company traded hands, compared to its average volume of 15,112,900. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. Sprint Corp has a fifty-two week low of $5.62 and a fifty-two week high of $9.65.
Sprint (NYSE:S) last issued its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. research analysts expect that Sprint Corp will post -0.03 earnings per share for the current year.
In related news, major shareholder Group Corp Softbank acquired 4,322,990 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $6.21 per share, for a total transaction of $26,845,767.90. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Tarek Robbiati sold 363,529 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the transaction, the chief financial officer now owns 1,901,974 shares in the company, valued at approximately $11,411,844. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 18,651,252 shares of company stock valued at $112,608,289. 0.18% of the stock is owned by insiders.
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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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