Daiwa Securities Group Inc. raised its stake in shares of Sprint Corp (NYSE:S) by 1,017.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 283,598 shares of the cell phone carrier’s stock after purchasing an additional 258,219 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Sprint were worth $1,671,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Commerce Bank purchased a new stake in shares of Sprint in the 3rd quarter worth about $100,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Sprint in the 3rd quarter worth about $141,000. Americafirst Capital Management LLC purchased a new stake in shares of Sprint in the 3rd quarter worth about $156,000. Capital Bank & Trust Co grew its position in shares of Sprint by 10,821.7% in the 3rd quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after buying an additional 21,427 shares during the period. Finally, ING Groep NV purchased a new stake in shares of Sprint in the 4th quarter worth about $188,000. 13.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jorge Enrique Gracia sold 112,959 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $6.18, for a total value of $698,086.62. Following the transaction, the insider now owns 858,383 shares in the company, valued at approximately $5,304,806.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Group Corp Softbank acquired 961,380 shares of the stock in a transaction dated Thursday, November 30th. The stock was acquired at an average price of $5.99 per share, for a total transaction of $5,758,666.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 55,763,951 shares of company stock worth $321,193,612 and have sold 549,707 shares worth $3,196,239. 0.18% of the stock is currently owned by corporate insiders.
Sprint Corp (NYSE:S) opened at $5.49 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.92. The stock has a market cap of $21,980.00, a PE ratio of 3.17 and a beta of 0.64. Sprint Corp has a one year low of $4.91 and a one year high of $9.44.
Sprint (NYSE:S) last posted its earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.46) EPS. equities research analysts forecast that Sprint Corp will post 1.76 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on S. Macquarie reaffirmed a “hold” rating and issued a $8.00 target price on shares of Sprint in a research report on Thursday, October 26th. TheStreet raised shares of Sprint from a “d+” rating to a “c” rating in a research report on Friday, February 2nd. Citigroup reissued a “neutral” rating and set a $6.50 price objective (down from $7.50) on shares of Sprint in a research report on Thursday, February 8th. Nomura reissued a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Sprint in a research report on Thursday, October 26th. Finally, KeyCorp set a $5.00 price objective on shares of Sprint and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Nine 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. The stock currently has a consensus rating of “Hold” and an average price target of $6.11.
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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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