Sprint Corporation (S) Major Shareholder Group Corp Softbank Purchases 2,633,814 Shares of Stock

Sprint Corporation (NYSE:S) major shareholder Group Corp Softbank bought 2,633,814 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average price of $5.98 per share, for a total transaction of $15,750,207.72. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Group Corp Softbank also recently made the following trade(s):

  • On Monday, November 13th, Group Corp Softbank bought 3,203,661 shares of Sprint Corporation stock. The shares were acquired at an average price of $6.12 per share, for a total transaction of $19,606,405.32.
  • On Thursday, November 9th, Group Corp Softbank bought 4,322,990 shares of Sprint Corporation stock. The shares were acquired at an average price of $6.21 per share, for a total transaction of $26,845,767.90.
  • On Tuesday, November 7th, Group Corp Softbank bought 6,484,367 shares of Sprint Corporation stock. The shares were acquired at an average price of $5.92 per share, for a total transaction of $38,387,452.64.

Sprint Corporation (NYSE S) traded down $0.03 during midday trading on Friday, hitting $6.22. 5,286,073 shares of the stock traded hands, compared to its average volume of 15,360,259. Sprint Corporation has a 12-month low of $5.62 and a 12-month high of $9.65. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80.

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

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Institutional investors have recently added to or reduced their stakes in the stock. Overbrook Management Corp purchased a new stake in Sprint Corporation in the 2nd quarter worth approximately $3,564,000. Swiss National Bank increased its holdings in Sprint Corporation by 3.0% in the 2nd quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock worth $23,853,000 after acquiring an additional 83,900 shares in the last quarter. FMR LLC boosted its stake in Sprint Corporation by 3.1% in the 2nd quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock worth $31,492,000 after purchasing an additional 115,192 shares during the period. Gateway Investment Advisers LLC boosted its stake in Sprint Corporation by 132.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 97,701 shares of the cell phone carrier’s stock worth $802,000 after purchasing an additional 55,704 shares during the period. Finally, Personal Capital Advisors Corp boosted its stake in Sprint Corporation by 76.9% in the 3rd quarter. Personal Capital Advisors Corp now owns 872,562 shares of the cell phone carrier’s stock worth $6,789,000 after purchasing an additional 379,238 shares during the period. 13.80% of the stock is owned by institutional investors.

A number of analysts have recently commented on S shares. Zacks Investment Research upgraded shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Tuesday, October 3rd. Vetr cut shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 price target on the stock. in a research note on Thursday, November 2nd. UBS AG reiterated a “buy” rating and issued a $7.50 price target (down previously from $9.00) on shares of Sprint Corporation in a research note on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG dropped their price target on shares of Sprint Corporation from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.19.

About Sprint Corporation

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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