GAM Holding AG Acquires New Position in Sprint Corp (S)

GAM Holding AG acquired a new position in shares of Sprint Corp (NYSE:S) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 176,370 shares of the cell phone carrier’s stock, valued at approximately $1,153,000.

Other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Sprint by 10.5% during the third quarter. Toronto Dominion Bank now owns 88,162 shares of the cell phone carrier’s stock worth $577,000 after purchasing an additional 8,369 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Sprint by 7.0% during the third quarter. Janus Henderson Group PLC now owns 137,455 shares of the cell phone carrier’s stock worth $899,000 after purchasing an additional 8,988 shares in the last quarter. Keybank National Association OH lifted its position in shares of Sprint by 3.9% during the second quarter. Keybank National Association OH now owns 247,329 shares of the cell phone carrier’s stock worth $1,345,000 after purchasing an additional 9,252 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Sprint by 6.9% during the second quarter. CIBC Asset Management Inc now owns 166,225 shares of the cell phone carrier’s stock worth $904,000 after purchasing an additional 10,728 shares in the last quarter. Finally, Highstreet Asset Management Inc. lifted its position in shares of Sprint by 17.7% during the second quarter. Highstreet Asset Management Inc. now owns 75,878 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 11,427 shares in the last quarter. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE S opened at $6.01 on Friday. Sprint Corp has a fifty-two week low of $4.81 and a fifty-two week high of $6.62. The company has a market capitalization of $24.66 billion, a P/E ratio of 85.86, a price-to-earnings-growth ratio of 6.10 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 1.24.

Sprint (NYSE:S) last posted its earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $8.43 billion for the quarter, compared to analyst estimates of $7.95 billion. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. Research analysts predict that Sprint Corp will post 0.05 EPS for the current fiscal year.

In other Sprint news, insider Jorge Enrique Gracia sold 129,652 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald D. Fisher sold 327,525 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the completion of the sale, the director now owns 2,419,275 shares in the company, valued at $14,999,505. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Sprint from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Sprint presently has an average rating of “Hold” and a consensus price target of $5.65.

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Sprint 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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Institutional Ownership by Quarter for Sprint (NYSE:S)

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