Insider Buying: Sprint Corporation (S) Major Shareholder Acquires 961,380 Shares of Stock

Sprint Corporation (NYSE:S) major shareholder Group Corp Softbank acquired 961,380 shares of Sprint stock in a transaction on Thursday, November 30th. The stock was acquired at an average cost of $5.99 per share, for a total transaction of $5,758,666.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Group Corp Softbank also recently made the following trade(s):

  • On Wednesday, November 15th, Group Corp Softbank acquired 2,633,814 shares of Sprint stock. The stock was acquired at an average cost of $5.98 per share, for a total transaction of $15,750,207.72.
  • On Monday, November 13th, Group Corp Softbank acquired 3,203,661 shares of Sprint stock. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $19,606,405.32.
  • On Thursday, November 9th, Group Corp Softbank acquired 4,322,990 shares of Sprint stock. The stock was acquired at an average cost of $6.21 per share, for a total transaction of $26,845,767.90.
  • On Tuesday, November 7th, Group Corp Softbank acquired 6,484,367 shares of Sprint stock. The stock was acquired at an average cost of $5.92 per share, for a total transaction of $38,387,452.64.

Sprint Corporation (NYSE:S) traded down $0.02 during mid-day trading on Friday, hitting $5.97. The stock had a trading volume of 9,729,264 shares, compared to its average volume of 15,136,799. Sprint Corporation has a 12 month low of $5.62 and a 12 month high of $9.65. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80.

Sprint (NYSE:S) last released its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. equities research analysts predict that Sprint Corporation will post -0.03 earnings per share for the current fiscal year.

A number of equities analysts have commented on S shares. Oppenheimer reissued a “hold” rating on shares of Sprint in a research note on Wednesday, September 20th. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, October 3rd. KeyCorp lowered Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a research note on Monday, November 6th. UBS reissued a “buy” rating and issued a $7.50 price objective (down previously from $9.00) on shares of Sprint in a research note on Monday, November 6th. Finally, Vetr lowered Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective on the stock. in a research note on Thursday, November 2nd. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.19.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in S. Aperio Group LLC increased its holdings in Sprint by 12.9% in the second quarter. Aperio Group LLC now owns 232,986 shares of the cell phone carrier’s stock valued at $1,913,000 after purchasing an additional 26,570 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Sprint by 52.9% in the second quarter. Russell Investments Group Ltd. now owns 1,217,391 shares of the cell phone carrier’s stock valued at $9,996,000 after purchasing an additional 421,287 shares during the last quarter. Strs Ohio increased its holdings in Sprint by 3,034.3% in the second quarter. Strs Ohio now owns 348,721 shares of the cell phone carrier’s stock valued at $2,862,000 after purchasing an additional 337,595 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Sprint in the second quarter valued at about $125,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Sprint by 17.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 4,000,000 shares of the cell phone carrier’s stock valued at $32,840,000 after purchasing an additional 600,000 shares during the last quarter. Institutional investors and hedge funds own 13.74% of the company’s stock.

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About Sprint

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.

Insider Buying and Selling by Quarter for Sprint (NYSE:S)

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