Public Employees Retirement System of Ohio lessened its position in shares of Sprint Corp (NYSE:S) by 37.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,711 shares of the cell phone carrier’s stock after selling 156,881 shares during the period. Public Employees Retirement System of Ohio’s holdings in Sprint were worth $1,429,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Keybank National Association OH boosted its stake in shares of Sprint by 3.9% in the second quarter. Keybank National Association OH now owns 247,329 shares of the cell phone carrier’s stock valued at $1,345,000 after buying an additional 9,252 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Sprint by 6.9% in the second quarter. CIBC Asset Management Inc now owns 166,225 shares of the cell phone carrier’s stock valued at $904,000 after buying an additional 10,728 shares during the period. Highstreet Asset Management Inc. boosted its stake in shares of Sprint by 17.7% in the second quarter. Highstreet Asset Management Inc. now owns 75,878 shares of the cell phone carrier’s stock valued at $413,000 after buying an additional 11,427 shares during the period. Andra AP fonden boosted its stake in shares of Sprint by 2.2% in the second quarter. Andra AP fonden now owns 725,700 shares of the cell phone carrier’s stock valued at $3,948,000 after buying an additional 15,700 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Sprint by 1,223.7% in the second quarter. Tower Research Capital LLC TRC now owns 19,855 shares of the cell phone carrier’s stock valued at $108,000 after buying an additional 18,355 shares during the period. Institutional investors own 13.05% of the company’s stock.
Several equities research analysts recently issued reports on S shares. Wells Fargo & Co reiterated a “buy” rating on shares of Sprint in a research note on Thursday, June 28th. Barclays began coverage on Sprint in a research note on Wednesday, June 27th. They set an “equal weight” rating and a $6.00 target price for the company. Zacks Investment Research cut Sprint from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, ValuEngine upgraded Sprint from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.81.
In other news, insider John Saw sold 260,095 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $6.14, for a total transaction of $1,596,983.30. Following the completion of the transaction, the insider now directly owns 1,333,982 shares in the company, valued at $8,190,649.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.
NYSE S opened at $6.41 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.15 and a quick ratio of 1.10. Sprint Corp has a fifty-two week low of $4.81 and a fifty-two week high of $7.26. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 90.29 and a beta of 0.81.
Sprint (NYSE:S) last announced its quarterly earnings results on Wednesday, August 1st. The cell phone carrier reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share.
Sprint Company Profile
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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