Sprint Corporation (S) Position Maintained by Highstreet Asset Management Inc.
Highstreet Asset Management Inc. maintained its stake in Sprint Corporation (NYSE:S) during the second quarter, Holdings Channel reports. The firm owned 79,718 shares of the cell phone carrier’s stock at the end of the second quarter. Highstreet Asset Management Inc.’s holdings in Sprint Corporation were worth $654,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new stake in Sprint Corporation during the first quarter valued at approximately $29,512,000. New Jersey Better Educational Savings Trust acquired a new stake in Sprint Corporation during the first quarter valued at approximately $434,000. Shell Asset Management Co. raised its stake in Sprint Corporation by 17.6% in the first quarter. Shell Asset Management Co. now owns 45,764 shares of the cell phone carrier’s stock valued at $397,000 after buying an additional 6,865 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in Sprint Corporation by 475.3% in the first quarter. Glen Harbor Capital Management LLC now owns 36,380 shares of the cell phone carrier’s stock valued at $316,000 after buying an additional 30,056 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Sprint Corporation by 91.6% in the first quarter. Profund Advisors LLC now owns 249,798 shares of the cell phone carrier’s stock valued at $2,168,000 after buying an additional 119,423 shares in the last quarter. Institutional investors and hedge funds own 14.29% of the company’s stock.
Shares of Sprint Corporation (NYSE S) opened at 8.09 on Friday. The stock’s market capitalization is $32.33 billion. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. The stock has a 50 day moving average of $8.35 and a 200 day moving average of $8.44. Sprint Corporation also was the target of some unusual options trading activity on Wednesday. Investors bought 2,058 put options on the company. This is an increase of 459% compared to the typical daily volume of 368 put options.
Sprint Corporation (NYSE:S) last announced its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 2.08% and a negative return on equity of 3.66%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Equities research analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
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Several research firms have recently commented on S. Vetr lowered shares of Sprint Corporation from a “buy” rating to a “hold” rating and set a $9.26 price target for the company. in a report on Tuesday, April 25th. UBS AG reiterated a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Cowen and Company reiterated a “market perform” rating and set a $6.50 price objective on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $5.00 price objective on shares of Sprint Corporation in a research note on Friday, July 14th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. Sprint Corporation currently has an average rating of “Hold” and a consensus price target of $9.89.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction on Wednesday, June 14th. The shares were 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 can be accessed 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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