Highbridge Capital Management LLC Invests $2.29 Million in Sprint Corp (S) Stock

Highbridge Capital Management LLC bought a new position in Sprint Corp (NYSE:S) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 350,000 shares of the cell phone carrier’s stock, valued at approximately $2,289,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in S. Sumitomo Mitsui Trust Holdings Inc. raised its position in Sprint by 5.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,310,428 shares of the cell phone carrier’s stock worth $12,569,000 after buying an additional 113,323 shares during the last quarter. First Trust Advisors LP raised its position in Sprint by 114.4% in the 2nd quarter. First Trust Advisors LP now owns 2,451,036 shares of the cell phone carrier’s stock worth $13,334,000 after buying an additional 1,308,054 shares during the last quarter. Financial Counselors Inc. purchased a new position in Sprint in the 2nd quarter worth about $100,000. Robeco Institutional Asset Management B.V. raised its position in Sprint by 39.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 233,576 shares of the cell phone carrier’s stock worth $1,272,000 after buying an additional 66,510 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Sprint by 9.7% in the 2nd quarter. Engineers Gate Manager LP now owns 464,569 shares of the cell phone carrier’s stock worth $2,527,000 after buying an additional 40,908 shares during the last quarter. Hedge funds and other institutional investors own 12.95% of the company’s stock.

Separately, Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.65.

NYSE S opened at $6.01 on Friday. Sprint Corp has a 52 week low of $4.81 and a 52 week high of $6.62. The stock has a market cap of $24.66 billion, a PE ratio of 85.86, a price-to-earnings-growth ratio of 6.10 and a beta of 0.71. 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 (NYSE:S) last released its quarterly earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The firm had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts forecast that Sprint Corp will post 0.05 EPS for the current fiscal year.

In related news, Director Ronald D. Fisher sold 327,525 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,419,275 shares in the company, valued at approximately $14,999,505. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jorge Enrique Gracia sold 129,652 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were 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 owned by corporate insiders.

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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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