BlackRock Fund Advisors lowered its position in Sprint Corporation (NYSE:S) by 24.8% during the third quarter, Holdings Channel reports. The firm owned 13,338,750 shares of the cell phone carrier’s stock after selling 4,407,811 shares during the period. BlackRock Fund Advisors’ holdings in Sprint Corporation were worth $88,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Calvert Investment Management Inc. increased its stake in shares of Sprint Corporation by 1.6% in the second quarter. Calvert Investment Management Inc. now owns 33,840 shares of the cell phone carrier’s stock worth $153,000 after buying an additional 548 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Sprint Corporation by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,411 shares of the cell phone carrier’s stock worth $102,000 after buying an additional 758 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Sprint Corporation by 4.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,155 shares of the cell phone carrier’s stock worth $119,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in Sprint Corporation by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 47,247 shares of the cell phone carrier’s stock worth $313,000 after buying an additional 1,283 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Sprint Corporation by 3.8% in the second quarter. Pacer Advisors Inc. now owns 36,032 shares of the cell phone carrier’s stock worth $163,000 after buying an additional 1,317 shares during the period. 14.62% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Sprint Corporation (NYSE:S)

Sprint Corporation (NYSE:S) opened at 8.61 on Friday. The firm’s 50 day moving average price is $8.42 and its 200-day moving average price is $6.74. The stock’s market cap is $34.28 billion. Sprint Corporation has a 52 week low of $2.18 and a 52 week high of $9.00.

Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Tuesday, October 25th. The cell phone carrier reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. Sprint Corporation had a negative net margin of 5.65% and a negative return on equity of 8.91%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.69 billion. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Sprint Corporation will post ($0.83) EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Sprint Corporation (S) Shares Sold by BlackRock Fund Advisors” was first reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this news story can be viewed at http://www.dailypolitical.com/2017/01/14/sprint-corporation-s-shares-sold-by-blackrock-fund-advisors.html.

A number of analysts have recently commented on the company. RBC Capital Markets reiterated a “hold” rating and set a $6.00 target price on shares of Sprint Corporation in a research report on Tuesday, January 3rd. Jefferies Group reiterated an “underperform” rating and set a $2.25 target price on shares of Sprint Corporation in a research report on Saturday, October 15th. Citigroup Inc. reiterated a “neutral” rating and set a $7.00 target price on shares of Sprint Corporation in a research report on Wednesday, October 26th. BTIG Research reiterated a “sell” rating and set a $2.50 target price on shares of Sprint Corporation in a research report on Wednesday, December 21st. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Sprint Corporation in a research report on Friday, December 16th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.93.

In other Sprint Corporation news, insider Roger Sole-Rafols sold 49,844 shares of Sprint Corporation stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $7.53, for a total value of $375,325.32. Following the transaction, the insider now owns 1,516,241 shares in the company, valued at $11,417,294.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul W. Schieber, Jr. sold 52,375 shares of Sprint Corporation stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $7.36, for a total transaction of $385,480.00. Following the completion of the transaction, the vice president now owns 205,808 shares in the company, valued at approximately $1,514,746.88. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

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.

5 Day Chart for NYSE:S

Want to see what other hedge funds are holding S? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprint Corporation (NYSE:S).

Receive News & Ratings for Sprint Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corporation and related companies with MarketBeat.com's FREE daily email newsletter.