Insider Buying: Corp Softbank Buys 6,581,652 Shares of Sprint Corp. Stock (S)
Sprint Corp. (NYSE:S) major shareholder Corp Softbank bought 6,581,652 shares of Sprint Corp. stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $6.41 per share, with a total value of $42,188,389.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on S. Analysts at Evercore Partners initiated coverage on shares of Sprint Corp. (NYSE:S) in a research note to investors on Monday. They set an “equal weight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Sprint Corp. (NYSE:S) in a research note to investors on Friday, August 23rd. They now have a $7.25 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Sprint Corp. (NYSE:S) from $7.00 to $6.00 in a research note to investors on Thursday, August 1st. They now have a “sector perform” rating on the stock.
Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.00.
Sprint Corp. (NYSE:S) traded up 2.92% on Thursday, hitting $6.69. 24,029,212 shares of the company’s stock traded hands. Sprint Corp. has a one year low of $5.61 and a one year high of $7.26. The stock’s 50-day moving average is $6.6 and its 200-day moving average is $6.55. The company’s market cap is $26.274 billion.
Sprint Corp. (NYSE:S) last released its earnings data on Tuesday, July 30th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.28) by $0.25. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the previous year, the company posted ($0.46) earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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