Redpoint Investment Management Pty Ltd Has $3.98 Million Position in Sprint Corp (S)

Redpoint Investment Management Pty Ltd raised its holdings in Sprint Corp (NYSE:S) by 483.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 683,865 shares of the cell phone carrier’s stock after buying an additional 566,589 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Sprint were worth $3,980,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in Sprint by 2,277.5% during the third quarter. Renaissance Technologies LLC now owns 11,366,643 shares of the cell phone carrier’s stock worth $74,338,000 after acquiring an additional 10,888,543 shares during the period. Morgan Stanley lifted its position in shares of Sprint by 145.5% in the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock valued at $56,275,000 after acquiring an additional 5,100,266 shares in the last quarter. Alpine Associates Management Inc. lifted its position in Sprint by 298.9% during the third quarter. Alpine Associates Management Inc. now owns 7,206,000 shares of the cell phone carrier’s stock worth $47,126,000 after buying an additional 5,399,600 shares in the last quarter. Scout Investments Inc. lifted its position in Sprint by 1.5% during the third quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock worth $40,342,000 after buying an additional 90,940 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Sprint by 2.0% during the second quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock worth $30,118,000 after buying an additional 107,441 shares in the last quarter. Institutional investors own 12.90% of the company’s stock.

In other Sprint news, Director Ronald D. Fisher sold 327,525 shares of Sprint stock in a transaction on Monday, November 19th. The stock was sold at an average price of $6.20, for a total value of $2,030,655.00. Following the sale, the director now owns 2,419,275 shares in the company, valued at $14,999,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by insiders.

NYSE:S opened at $5.90 on Monday. Sprint Corp has a 52 week low of $4.81 and a 52 week high of $6.62. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $23.62 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 5.84 and a beta of 0.53.

Sprint (NYSE:S) last posted its earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). Sprint had a net margin of 0.90% and a return on equity of 1.08%. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, research analysts predict that Sprint Corp will post 0.05 EPS for the current fiscal year.

A number of brokerages recently commented on S. Cowen reiterated a “hold” rating and set a $4.50 price objective on shares of Sprint in a research report on Monday, February 4th. ValuEngine upgraded Sprint from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded Sprint from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Tuesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Sprint currently has an average rating of “Hold” and a consensus price target of $5.83.

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About Sprint

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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Institutional Ownership by Quarter for Sprint (NYSE:S)

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