Vanguard Group Inc. increased its stake in Sprint Corporation (NYSE:S) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,670,102 shares of the cell phone carrier’s stock after buying an additional 1,823,591 shares during the period. Vanguard Group Inc. owned about 0.94% of Sprint Corporation worth $326,977,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Sprint Corporation by 0.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,424 shares of the cell phone carrier’s stock valued at $180,000 after buying an additional 98 shares in the last quarter. Ronald Blue & Co. LLC boosted its position in Sprint Corporation by 1.1% in the first quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock worth $185,000 after buying an additional 222 shares in the last quarter. Pacer Advisors Inc. boosted its position in Sprint Corporation by 1.9% in the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after buying an additional 483 shares in the last quarter. World Asset Management Inc boosted its position in Sprint Corporation by 2.9% in the first quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock worth $214,000 after buying an additional 693 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock worth $136,000 after buying an additional 854 shares in the last quarter. Institutional investors and hedge funds own 14.33% of the company’s stock.
Shares of Sprint Corporation (NYSE:S) traded up 0.24% during midday trading on Friday, reaching $8.22. 9,030,645 shares of the company were exchanged. The company’s 50-day moving average price is $8.23 and its 200 day moving average price is $8.49. The stock’s market capitalization is $32.81 billion. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65.
Sprint Corporation (NYSE:S) last announced its earnings results on Wednesday, May 3rd. The cell phone carrier reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $7.94 billion. Sprint Corporation had a negative return on equity of 5.90% and a negative net margin of 3.62%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) EPS. On average, equities analysts predict that Sprint Corporation will post ($0.83) earnings per share for the current year.
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A number of research analysts recently commented on S shares. Macquarie upped their price objective on Sprint Corporation from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. SunTrust Banks, Inc. initiated coverage on Sprint Corporation in a research report on Tuesday, April 18th. They issued a “hold” rating and a $9.00 target price on the stock. Vetr raised Sprint Corporation from a “buy” rating to a “strong-buy” rating and set a $9.50 target price on the stock in a research report on Wednesday, April 5th. Cowen and Company cut their price objective on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, May 4th. Finally, TheStreet raised Sprint Corporation from a “d+” rating to a “c+” rating in a research report on Wednesday, May 3rd. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Sprint Corporation has an average rating of “Hold” and an average price target of $9.82.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.
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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