Oakbrook Investments LLC reduced its holdings in shares of Sprint Corp (NYSE:S) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,100 shares of the cell phone carrier’s stock after selling 2,500 shares during the quarter. Oakbrook Investments LLC’s holdings in Sprint were worth $76,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Sprint by 2,277.5% during the 3rd quarter. Renaissance Technologies LLC now owns 11,366,643 shares of the cell phone carrier’s stock valued at $74,338,000 after buying an additional 10,888,543 shares in the last quarter. Morgan Stanley increased its holdings in Sprint by 145.5% during the 3rd quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock worth $56,275,000 after acquiring an additional 5,100,266 shares during the period. Alpine Associates Management Inc. increased its holdings in Sprint by 298.9% during the 3rd quarter. Alpine Associates Management Inc. now owns 7,206,000 shares of the cell phone carrier’s stock worth $47,126,000 after acquiring an additional 5,399,600 shares during the period. Scout Investments Inc. increased its holdings in Sprint by 1.5% during the 3rd quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock worth $40,342,000 after acquiring an additional 90,940 shares during the period. Finally, Northern Trust Corp increased its holdings in Sprint by 2.0% during the 2nd quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock worth $30,118,000 after acquiring an additional 107,441 shares during the period. Institutional investors own 12.88% of the company’s stock.
Shares of NYSE:S remained flat at $$5.90 during trading on Friday. 16,711,875 shares of the stock were exchanged, compared to its average volume of 12,918,050. The company has a market cap of $23.62 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 5.84 and a beta of 0.53. Sprint Corp has a 1 year low of $4.81 and a 1 year high of $6.62. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 1.28.
Sprint (NYSE:S) last issued its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.40 billion. Sprint had a return on equity of 1.08% and a net margin of 0.90%. During the same period in the previous year, the company earned $1.76 EPS. As a group, research analysts forecast that Sprint Corp will post 0.05 earnings per share for the current fiscal year.
In related news, Director Ronald D. Fisher sold 327,525 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the transaction, the director now owns 2,419,275 shares of the company’s stock, valued at approximately $14,999,505. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on S. ValuEngine raised shares of Sprint from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Cowen reaffirmed a “hold” rating and set a $4.50 target price on shares of Sprint in a report on Monday, February 4th. Finally, Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, November 27th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.83.
Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
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