Quinn Opportunity Partners LLC purchased a new position in shares of Sprint Corp (NYSE:S) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,800 shares of the cell phone carrier’s stock, valued at approximately $355,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Sprint by 4.9% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 51,975 shares of the cell phone carrier’s stock valued at $293,000 after buying an additional 2,407 shares during the period. Raymond James & Associates grew its stake in shares of Sprint by 92.4% in the 1st quarter. Raymond James & Associates now owns 204,310 shares of the cell phone carrier’s stock valued at $1,154,000 after buying an additional 98,103 shares during the period. Toronto Dominion Bank grew its stake in shares of Sprint by 34.0% in the 1st quarter. Toronto Dominion Bank now owns 146,842 shares of the cell phone carrier’s stock valued at $829,000 after buying an additional 37,257 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in shares of Sprint by 5.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 75,461 shares of the cell phone carrier’s stock valued at $426,000 after buying an additional 3,800 shares during the period. Finally, Signition LP grew its stake in shares of Sprint by 7.0% in the 1st quarter. Signition LP now owns 321,329 shares of the cell phone carrier’s stock valued at $1,816,000 after buying an additional 21,042 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.
Sprint stock opened at $6.08 on Friday. Sprint Corp has a 1-year low of $5.04 and a 1-year high of $6.61. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.98. The company has a market capitalization of $24.34 billion, a PE ratio of 608.00 and a beta of 0.47.
Sprint (NYSE:S) last issued its quarterly earnings data on Tuesday, May 7th. The cell phone carrier reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. The company had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.19 billion. During the same quarter in the prior year, the company posted $0.02 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sprint Corp will post -0.05 earnings per share for the current fiscal year.
In other news, CTO John Saw sold 62,444 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $5.96, for a total value of $372,166.24. Following the transaction, the chief technology officer now directly owns 1,090,096 shares in the company, valued at approximately $6,496,972.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Several research firms have recently weighed in on S. Macquarie reissued a “hold” rating and issued a $5.50 price target on shares of Sprint in a research note on Sunday, May 12th. Raymond James cut shares of Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 price target for the company. in a research note on Monday, April 29th. ValuEngine cut shares of Sprint from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. William Blair reissued an “underperform” rating on shares of Sprint in a research note on Monday, February 11th. Finally, Cowen reissued a “hold” rating and issued a $4.50 price target on shares of Sprint in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Sprint currently has an average rating of “Hold” and an average target price of $5.71.
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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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