Sprint Corporation (S) Major Shareholder Group Corp Softbank Acquires 4,322,990 Shares of Stock

Sprint Corporation (NYSE:S) major shareholder Group Corp Softbank bought 4,322,990 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $6.21 per share, with a total value of $26,845,767.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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, November 7th, Group Corp Softbank bought 6,484,367 shares of Sprint Corporation stock. The shares were purchased at an average price of $5.92 per share, with a total value of $38,387,452.64.

Shares of Sprint Corporation (S) opened at $6.03 on Tuesday. Sprint Corporation has a fifty-two week low of $5.62 and a fifty-two week high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.

Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Sprint Corporation had a negative net margin of 1.82% and a negative return on equity of 3.19%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. sell-side analysts forecast that Sprint Corporation will post -0.02 EPS for the current year.

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Institutional investors have recently modified their holdings of the company. Wetherby Asset Management Inc. purchased a new position in shares of Sprint Corporation during the 2nd quarter worth $100,000. Financial Counselors Inc. lifted its stake in shares of Sprint Corporation by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after buying an additional 201 shares in the last quarter. Commerce Bank purchased a new position in shares of Sprint Corporation during the 3rd quarter valued at $100,000. Summit Securities Group LLC purchased a new position in shares of Sprint Corporation during the 2nd quarter valued at $108,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Sprint Corporation by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 13.80% of the company’s stock.

A number of equities analysts recently issued reports on S shares. Zacks Investment Research raised shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Tuesday, October 3rd. Vetr downgraded shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 price target for the company. in a research note on Thursday, November 2nd. UBS AG reissued a “buy” rating and issued a $7.50 price target (down from $9.00) on shares of Sprint Corporation in a research note on Monday, November 6th. KeyCorp reissued a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG decreased their price target on shares of Sprint Corporation from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Eight investment 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $9.65.

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.

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