Sprint Corporation (S) Stake Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Sprint Corporation (NYSE:S) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,186,181 shares of the cell phone carrier’s stock after selling 251,547 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.05% of Sprint worth $17,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in S. Vanguard Group Inc. boosted its holdings in shares of Sprint by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 37,971,867 shares of the cell phone carrier’s stock valued at $311,749,000 after purchasing an additional 301,765 shares during the last quarter. Odey Asset Management Group Ltd boosted its holdings in shares of Sprint by 107.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock valued at $66,706,000 after purchasing an additional 4,204,955 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Sprint by 6,509.8% during the 2nd quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after acquiring an additional 7,070,812 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sprint by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,075,012 shares of the cell phone carrier’s stock valued at $58,083,000 after acquiring an additional 50,302 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Sprint by 17.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 4,000,000 shares of the cell phone carrier’s stock valued at $32,840,000 after acquiring an additional 600,000 shares in the last quarter. 13.74% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Tarek Robbiati sold 363,529 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Group Corp Softbank bought 4,322,990 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of $6.21 per share, with a total value of $26,845,767.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 18,651,252 shares of company stock valued at $112,608,289. Company insiders own 0.18% of the company’s stock.

A number of equities analysts have commented on the stock. Oppenheimer reiterated a “hold” rating on shares of Sprint in a report on Wednesday, September 20th. Zacks Investment Research upgraded shares of Sprint from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Tuesday, October 3rd. KeyCorp lowered shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a report on Monday, November 6th. UBS reissued a “buy” rating and issued a $7.50 target price (down previously from $9.00) on shares of Sprint in a research report on Monday, November 6th. Finally, Vetr downgraded shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 target price for the company. in a research report on Thursday, November 2nd. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Sprint currently has a consensus rating of “Hold” and an average price target of $7.19.

Sprint Corporation (NYSE:S) traded down $0.21 during trading on Wednesday, reaching $5.74. 15,245,301 shares of the company’s stock were exchanged, compared to its average volume of 15,118,537. 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 has a 52-week low of $5.62 and a 52-week high of $9.65.

Sprint (NYSE:S) last posted its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 had a negative net margin of 1.82% and a negative return on equity of 3.19%. Sprint’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. equities analysts forecast that Sprint Corporation will post -0.03 EPS for the current fiscal year.

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Sprint Profile

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.

Institutional Ownership by Quarter for Sprint (NYSE:S)

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