Sprint Corporation (S) Short Interest Down 4.7% in September
Sprint Corporation (NYSE:S) was the target of a large decrease in short interest during the month of September. As of September 29th, there was short interest totalling 92,339,462 shares, a decrease of 4.7% from the September 15th total of 96,917,925 shares. Based on an average trading volume of 19,556,179 shares, the short-interest ratio is currently 4.7 days. Currently, 14.0% of the shares of the stock are sold short.
Sprint Corporation (S) opened at 7.05 on Thursday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The stock has a 50 day moving average price of $7.72 and a 200 day moving average price of $8.17. The company’s market capitalization is $28.18 billion.
Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, beating 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 net margin of 2.08% and a negative return on equity of 3.66%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Wetherby Asset Management Inc. bought a new stake in Sprint Corporation during the second quarter valued at $100,000. Financial Counselors Inc. boosted its position in Sprint Corporation by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after acquiring an additional 201 shares during the last quarter. Summit Securities Group LLC bought a new stake in Sprint Corporation during the second quarter valued at $108,000. Advisors Asset Management Inc. boosted its position in Sprint Corporation by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after acquiring an additional 318 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Sprint Corporation by 17.0% during the second quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock valued at $125,000 after acquiring an additional 2,210 shares during the last quarter. 13.95% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on S. BidaskClub lowered Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. KeyCorp restated a “hold” rating on shares of Sprint Corporation in a research report on Wednesday, October 11th. Wells Fargo & Company restated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Zacks Investment Research lowered Sprint Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Barclays PLC restated a “neutral” rating and set a $8.00 price target on shares of Sprint Corporation in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $10.18.
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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