Renaissance Technologies LLC purchased a new position in Sprint Corp (NYSE:S) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,449,443 shares of the cell phone carrier’s stock, valued at approximately $26,207,000. Renaissance Technologies LLC owned 0.11% of Sprint as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Commerce Bank bought a new stake in shares of Sprint in the third quarter worth approximately $100,000. BancorpSouth Bank bought a new stake in shares of Sprint in the fourth quarter worth approximately $104,000. Delpha Capital Management LLC purchased a new position in shares of Sprint in the fourth quarter worth approximately $131,000. Crossmark Global Holdings Inc. purchased a new position in shares of Sprint in the third quarter worth approximately $141,000. Finally, Americafirst Capital Management LLC purchased a new position in shares of Sprint in the third quarter worth approximately $156,000. Hedge funds and other institutional investors own 13.62% of the company’s stock.
A number of equities analysts recently issued reports on S shares. KeyCorp set a $5.00 price objective on shares of Sprint and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. TheStreet downgraded shares of Sprint from a “c-” rating to a “d+” rating in a report on Tuesday, December 19th. Deutsche Bank dropped their price objective on shares of Sprint to $5.50 and set a “hold” rating on the stock in a report on Monday, December 11th. Macquarie downgraded shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective on the stock. in a report on Tuesday, January 23rd. Finally, Vetr downgraded shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective on the stock. in a report on Thursday, January 4th. Ten analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $6.02.
Sprint Corp (NYSE S) opened at $5.03 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Sprint Corp has a 1-year low of $4.91 and a 1-year high of $9.22. The firm has a market cap of $20,655.67, a P/E ratio of 2.91 and a beta of 0.64.
Sprint (NYSE:S) last issued its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.19 billion. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. equities research analysts forecast that Sprint Corp will post 1.75 EPS for the current fiscal year.
In other news, major shareholder Group Corp Softbank purchased 4,282,600 shares of the stock in a transaction on Wednesday, December 27th. The shares were acquired at an average price of $5.85 per share, with a total value of $25,053,210.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 37,827,608 shares of company stock worth $219,274,536 in the last ninety days. Insiders own 0.18% of the company’s stock.
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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