Candriam Luxembourg S.C.A. reduced its stake in Sprint Corporation (NYSE:S) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 282,603 shares of the cell phone carrier’s stock after selling 33,253 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Sprint Corporation were worth $2,320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of S. Janney Montgomery Scott LLC purchased a new position in Sprint Corporation during the second quarter valued at $125,000. Stratos Wealth Partners LTD. boosted its position in Sprint Corporation by 17.0% in the second quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock valued at $125,000 after buying an additional 2,210 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Sprint Corporation by 60.4% in the first quarter. Advisors Asset Management Inc. now owns 14,491 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 5,459 shares during the last quarter. Sigma Planning Corp purchased a new position in Sprint Corporation during the first quarter valued at $135,000. Finally, Mackenzie Financial Corp boosted its position in Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock valued at $136,000 after buying an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 14.35% of the company’s stock.

Shares of Sprint Corporation (NYSE S) opened at 8.22 on Thursday. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. The company has a 50-day moving average of $8.33 and a 200-day moving average of $8.48. The company’s market cap is $32.82 billion.

Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current year.

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Several equities analysts have weighed in on the stock. Macquarie lifted their price objective on shares of Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. BidaskClub cut shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Cowen and Company lowered their price objective on shares of Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, May 4th. Finally, Barclays PLC reiterated a “neutral” rating and set a $8.00 price objective on shares of Sprint Corporation in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.89.

In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total transaction of $201,102.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

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

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