Group Corp Softbank Acquires 6,239,538 Shares of Sprint Corp (S) Stock

Sprint Corp (NYSE:S) major shareholder Group Corp Softbank purchased 6,239,538 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was purchased at an average cost of $5.70 per share, with a total value of $35,565,366.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 Tuesday, January 9th, Group Corp Softbank purchased 5,348,176 shares of Sprint stock. The stock was purchased at an average cost of $5.82 per share, with a total value of $31,126,384.32.
  • On Friday, January 5th, Group Corp Softbank purchased 5,161,418 shares of Sprint stock. The stock was purchased at an average cost of $5.68 per share, with a total value of $29,316,854.24.
  • On Wednesday, January 3rd, Group Corp Softbank purchased 4,301,182 shares of Sprint stock. The stock was purchased at an average cost of $5.96 per share, with a total value of $25,635,044.72.
  • On Friday, December 28th, Group Corp Softbank purchased 2,102,152 shares of Sprint stock. The stock was purchased at an average cost of $5.92 per share, with a total value of $12,444,739.84.
  • On Friday, December 29th, Group Corp Softbank acquired 4,243,452 shares of Sprint stock. The stock was bought at an average price of $5.94 per share, for a total transaction of $25,206,104.88.
  • On Wednesday, December 27th, Group Corp Softbank acquired 4,282,600 shares of Sprint stock. The stock was bought at an average price of $5.85 per share, for a total transaction of $25,053,210.00.
  • On Friday, December 22nd, Group Corp Softbank acquired 2,563,780 shares of Sprint stock. The stock was bought at an average price of $5.69 per share, for a total transaction of $14,587,908.20.
  • On Wednesday, December 20th, Group Corp Softbank acquired 5,095,549 shares of Sprint stock. The stock was bought at an average price of $5.64 per share, for a total transaction of $28,738,896.36.
  • On Monday, December 18th, Group Corp Softbank acquired 5,039,477 shares of Sprint stock. The stock was bought at an average price of $5.60 per share, for a total transaction of $28,221,071.20.
  • On Thursday, December 14th, Group Corp Softbank acquired 3,231,117 shares of Sprint stock. The stock was bought at an average price of $5.68 per share, for a total transaction of $18,352,744.56.

Sprint Corp (NYSE S) remained flat at $$5.69 during trading on Friday. The company had a trading volume of 18,423,145 shares, compared to its average volume of 18,869,471. The company has a market capitalization of $22,760.00, a price-to-earnings ratio of -37.93 and a beta of 0.79. Sprint Corp has a fifty-two week low of $5.42 and a fifty-two week high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80.

Sprint (NYSE:S) last released its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $7.93 billion for 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%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS. analysts anticipate that Sprint Corp will post -0.02 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 increased its position 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 increased its position in shares of Sprint by 6,509.8% in 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 purchasing an additional 7,070,812 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sprint by 0.7% in 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 purchasing an additional 50,302 shares during the last quarter. Finally, FMR LLC increased its position in shares of Sprint by 3.1% in the 2nd quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock valued at $31,492,000 after purchasing an additional 115,192 shares during the last quarter. Institutional investors own 13.74% of the company’s stock.

Several equities analysts have recently commented on the stock. Moffett Nathanson restated a “sell” rating on shares of Sprint in a report on Thursday, October 12th. Nomura restated a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of Sprint in a report on Thursday, October 26th. ValuEngine lowered shares of Sprint from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Oppenheimer restated a “hold” rating on shares of Sprint in a report on Wednesday, September 20th. Finally, Macquarie restated a “hold” rating and issued a $6.50 price objective on shares of Sprint in a report on Tuesday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Sprint presently has a consensus rating of “Hold” and a consensus target price of $6.72.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://ledgergazette.com/2018/01/12/group-corp-softbank-acquires-6239538-shares-of-sprint-corp-s-stock.html.

Sprint Company 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.

Insider Buying and Selling by Quarter for Sprint (NYSE:S)

Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply