Pictet Asset Management Ltd. Trims Stake in Sprint Corporation (S)

Pictet Asset Management Ltd. cut its holdings in Sprint Corporation (NYSE:S) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 336,879 shares of the cell phone carrier’s stock after selling 101,298 shares during the period. Pictet Asset Management Ltd.’s holdings in Sprint Corporation were worth $2,621,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in S. Principal Financial Group Inc. grew its holdings in Sprint Corporation by 47.0% in the 1st quarter. Principal Financial Group Inc. now owns 149,887 shares of the cell phone carrier’s stock worth $1,301,000 after acquiring an additional 47,953 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Sprint Corporation by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 1,446,776 shares of the cell phone carrier’s stock valued at $12,558,000 after purchasing an additional 39,603 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Sprint Corporation by 10.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,056,114 shares of the cell phone carrier’s stock valued at $9,168,000 after purchasing an additional 99,063 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Sprint Corporation by 16.8% during the 1st quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock valued at $5,605,000 after purchasing an additional 93,034 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Sprint Corporation by 8.4% during the first quarter. HighTower Advisors LLC now owns 28,563 shares of the cell phone carrier’s stock worth $247,000 after acquiring an additional 2,206 shares in the last quarter. 13.80% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on S shares. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and set a $9.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen and Company restated a “market perform” rating and set a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Barclays PLC reaffirmed a “neutral” rating and set a $8.00 price target on shares of Sprint Corporation in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, September 20th. Eight research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $9.65.

In other Sprint Corporation news, major shareholder Group Corp Softbank acquired 6,484,367 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $5.92 per share, for a total transaction of $38,387,452.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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Sprint Corporation (NYSE S) opened at $6.03 on Tuesday. Sprint Corporation has a 52-week low of $5.62 and a 52-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 Corporation (NYSE:S) last posted its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. research analysts anticipate that Sprint Corporation will post -0.02 EPS for the current fiscal year.

About Sprint Corporation

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 Corporation (NYSE:S)

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