Sprint Corp (NYSE:S) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 114,741,511 shares, an increase of 12.3% from the November 15th total of 102,172,417 shares. Currently, 18.2% of the company’s shares are sold short. Based on an average daily trading volume, of 10,343,297 shares, the short-interest ratio is presently 11.1 days.

In related news, CFO Tarek Robbiati sold 363,529 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Group Corp Softbank purchased 6,484,367 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average cost of $5.92 per share, with a total value of $38,387,452.64. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 18,651,252 shares of company stock valued at $112,608,289 and have sold 913,236 shares valued at $5,377,413. Insiders own 0.18% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Sprint by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock worth $27,973,000 after purchasing an additional 54,865 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in Sprint by 3.9% during the third quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock worth $7,423,000 after purchasing an additional 35,910 shares during the last quarter. Overbrook Management Corp acquired a new position in Sprint during the second quarter worth $3,564,000. Swiss National Bank lifted its stake in Sprint by 3.0% in the second quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock valued at $23,853,000 after acquiring an additional 83,900 shares during the last quarter. Finally, FMR LLC lifted its stake in Sprint by 3.1% in the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock valued at $31,492,000 after acquiring an additional 115,192 shares during the last quarter. Institutional investors and hedge funds own 13.74% of the company’s stock.

Shares of Sprint (S) opened at $5.49 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. Sprint has a 12-month low of $5.42 and a 12-month high of $9.65.

Sprint (NYSE:S) last issued its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. analysts forecast that Sprint will post -0.03 earnings per share for the current fiscal year.

S has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Tuesday, October 10th. BTIG Research upped their target price on shares of Sprint from $3.85 to $4.00 and gave the company a “sell” rating in a research note on Wednesday, October 18th. KeyCorp downgraded shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 target price for the company. in a research note on Monday, November 6th. Deutsche Bank lowered their target price on shares of Sprint from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Finally, UBS reaffirmed a “buy” rating and issued a $7.50 target price (down previously from $9.00) on shares of Sprint in a research note on Monday, November 6th. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Sprint presently has an average rating of “Hold” and a consensus price target of $7.10.

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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.

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