DNB Asset Management AS grew its position in Sprint Corp (NYSE:S) by 12.8% in the third quarter, HoldingsChannel.com reports. The fund owned 114,720 shares of the cell phone carrier’s stock after buying an additional 13,000 shares during the period. DNB Asset Management AS’s holdings in Sprint were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in S. Financial Counselors Inc. acquired a new stake in shares of Sprint during the 2nd quarter worth about $100,000. Tower Research Capital LLC TRC lifted its stake in shares of Sprint by 1,223.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,855 shares of the cell phone carrier’s stock worth $108,000 after buying an additional 18,355 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Sprint during the 2nd quarter worth about $136,000. Caption Management LLC lifted its stake in shares of Sprint by 294.4% during the 2nd quarter. Caption Management LLC now owns 28,000 shares of the cell phone carrier’s stock worth $153,000 after buying an additional 20,900 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Sprint by 135.3% during the 1st quarter. WINTON GROUP Ltd now owns 32,122 shares of the cell phone carrier’s stock worth $157,000 after buying an additional 18,468 shares during the last quarter. 13.06% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of Sprint from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 12th. Barclays assumed coverage on shares of Sprint in a research note on Wednesday, June 27th. They issued an “equal weight” rating and a $6.00 price objective for the company. Wells Fargo & Co reiterated a “buy” rating on shares of Sprint in a research note on Thursday, June 28th. Finally, Zacks Investment Research cut shares of Sprint from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two 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 stock. The company presently has a consensus rating of “Hold” and an average target price of $5.93.
Sprint (NYSE:S) last issued its earnings results on Wednesday, August 1st. The cell phone carrier reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, research analysts expect that Sprint Corp will post -0.03 EPS for the current year.
In other news, insider John Saw sold 260,095 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $6.14, for a total value of $1,596,983.30. Following the completion of the transaction, the insider now directly owns 1,333,982 shares in the company, valued at approximately $8,190,649.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by insiders.
Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
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