Sumitomo Mitsui Asset Management Company LTD Cuts Position in Sprint Corporation (S)
Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Sprint Corporation (NYSE:S) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 59,254 shares of the cell phone carrier’s stock after selling 456 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Sprint Corporation were worth $486,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of S. Creative Planning boosted its stake in Sprint Corporation by 5.0% in the first quarter. Creative Planning now owns 123,149 shares of the cell phone carrier’s stock valued at $1,069,000 after buying an additional 5,884 shares during the period. Capstone Asset Management Co. boosted its stake in Sprint Corporation by 9.2% in the first quarter. Capstone Asset Management Co. now owns 18,432 shares of the cell phone carrier’s stock valued at $160,000 after buying an additional 1,552 shares during the period. DnB Asset Management AS boosted its stake in Sprint Corporation by 8.7% in the first quarter. DnB Asset Management AS now owns 89,120 shares of the cell phone carrier’s stock valued at $774,000 after buying an additional 7,100 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Sprint Corporation by 44.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 315,856 shares of the cell phone carrier’s stock valued at $2,742,000 after buying an additional 97,068 shares during the period. Finally, Nationwide Fund Advisors bought a new stake in Sprint Corporation during the first quarter valued at approximately $2,862,000. Institutional investors own 14.35% of the company’s stock.
Shares of Sprint Corporation (S) opened at 8.03 on Friday. The firm’s market cap is $32.09 billion. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. The company’s 50 day moving average price is $8.32 and its 200-day moving average price is $8.48.
Sprint Corporation (NYSE:S) last issued its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. Equities analysts expect that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
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A number of research analysts recently weighed in on S shares. SunTrust Banks, Inc. started coverage on Sprint Corporation in a report on Tuesday, April 18th. They set a “hold” rating and a $9.00 price objective on the stock. Vetr lowered Sprint Corporation from a “buy” rating to a “hold” rating and set a $9.26 price objective on the stock. in a report on Tuesday, April 25th. Macquarie upped their price objective on Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Cowen and Company dropped their price objective on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, May 4th. Finally, TheStreet raised Sprint Corporation from a “d+” rating to a “c+” rating in a report on Wednesday, May 3rd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. Sprint Corporation currently has an average rating of “Hold” and an average price target of $9.89.
In related news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.
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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