Gamco Investors INC. ET AL Reduces Holdings in Sprint Corp (S)

Gamco Investors INC. ET AL reduced its position in Sprint Corp (NYSE:S) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,449,983 shares of the cell phone carrier’s stock after selling 183,701 shares during the period. Gamco Investors INC. ET AL’s holdings in Sprint were worth $9,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of S. Odey Asset Management Group Ltd increased its holdings in shares of Sprint by 24.6% during the 2nd quarter. Odey Asset Management Group Ltd now owns 17,061,000 shares of the cell phone carrier’s stock valued at $92,812,000 after acquiring an additional 3,366,000 shares during the last quarter. Scout Investments Inc. increased its holdings in shares of Sprint by 1.5% during the 3rd quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock valued at $40,342,000 after acquiring an additional 90,940 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Sprint by 2.0% during the 2nd quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock valued at $30,118,000 after acquiring an additional 107,441 shares during the last quarter. Carillon Tower Advisers Inc. increased its holdings in shares of Sprint by 7.6% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 3,907,649 shares of the cell phone carrier’s stock valued at $21,258,000 after acquiring an additional 274,599 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Sprint during the 3rd quarter valued at about $20,928,000. 13.12% of the stock is currently owned by institutional investors.

Shares of S stock opened at $6.19 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. Sprint Corp has a 12 month low of $4.81 and a 12 month high of $6.62. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 88.43 and a beta of 0.80.

Sprint (NYSE:S) last announced its quarterly earnings data on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint had a return on equity of 1.36% and a net margin of 23.12%. The company had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Sprint Corp will post 0.02 EPS for the current year.

A number of research analysts have recently commented on S shares. Zacks Investment Research lowered Sprint from a “buy” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine raised Sprint from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Sprint currently has an average rating of “Hold” and a consensus target price of $5.53.

In related news, insider John Saw sold 260,095 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was 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 owns 1,333,982 shares in the company, valued at approximately $8,190,649.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jorge Enrique Gracia sold 129,652 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $6.38, for a total value of $827,179.76. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

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About Sprint

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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Institutional Ownership by Quarter for Sprint (NYSE:S)

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