Swiss National Bank grew its holdings in Sprint Corporation (NYSE:S) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,905,351 shares of the cell phone carrier’s stock after buying an additional 83,900 shares during the quarter. Swiss National Bank owned approximately 0.07% of Sprint Corporation worth $23,853,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. purchased a new stake in Sprint Corporation in the 2nd quarter worth approximately $100,000. Summit Securities Group LLC purchased a new stake in Sprint Corporation in the 2nd quarter worth approximately $108,000. Advisors Asset Management Inc. lifted its holdings in Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after buying an additional 318 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Sprint Corporation in the 2nd quarter worth approximately $125,000. Finally, Stratos Wealth Partners LTD. lifted its holdings in Sprint Corporation by 17.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock worth $125,000 after buying an additional 2,210 shares during the period. Institutional investors and hedge funds own 13.96% of the company’s stock.
Shares of Sprint Corporation (NYSE:S) opened at 7.74 on Friday. The company’s market cap is $30.94 billion. The firm has a 50 day moving average price of $8.32 and a 200-day moving average price of $8.37. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65.
Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current fiscal year.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.
Several research analysts have recently issued reports on the company. BidaskClub lowered Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Cowen and Company reissued a “market perform” rating and issued a $6.50 target price on shares of Sprint Corporation in a research report on Tuesday, August 8th. Barclays PLC reissued a “neutral” rating and issued a $8.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.26.
Sprint Corporation 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.
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