Sprint (S) Debt Trading 1.2% Lower
An issue of Sprint Corp (NYSE:S) bonds fell 1.2% as a percentage of their face value during trading on Monday. The debt issue has a 6% coupon and is set to mature on November 15, 2022. The debt is now trading at $98.50 and was trading at $98.16 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.
Several equities analysts have commented on S shares. KeyCorp set a $5.00 price objective on Sprint and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. TheStreet lowered Sprint from a “c-” rating to a “d+” rating in a research report on Tuesday, December 19th. Deutsche Bank lowered their price objective on Sprint to $5.50 and set a “hold” rating for the company in a research report on Monday, December 11th. Vetr lowered Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective for the company. in a research report on Thursday, January 4th. Finally, Macquarie lowered Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research report on Tuesday, January 23rd. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $6.02.
Sprint Corp (S) opened at $5.29 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. The stock has a market capitalization of $21,296.16, a PE ratio of 3.06 and a beta of 0.64. Sprint Corp has a 52-week low of $4.91 and a 52-week high of $9.22.
In other Sprint news, major shareholder Group Corp Softbank acquired 6,239,538 shares of Sprint stock in a transaction that occurred on Thursday, January 11th. The stock was bought at an average cost of $5.70 per share, for a total transaction of $35,565,366.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased a total of 53,757,531 shares of company stock valued at $309,175,156 over the last quarter. 0.18% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in S. BlackRock Inc. grew its stake in shares of Sprint by 19.8% during the 4th quarter. BlackRock Inc. now owns 43,490,226 shares of the cell phone carrier’s stock valued at $256,158,000 after purchasing an additional 7,188,919 shares during the period. Geode Capital Management LLC grew its stake in shares of Sprint by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,706,246 shares of the cell phone carrier’s stock valued at $27,698,000 after purchasing an additional 69,950 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Sprint during the 4th quarter valued at about $26,207,000. Bank of New York Mellon Corp grew its stake in shares of Sprint by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,682,775 shares of the cell phone carrier’s stock valued at $21,693,000 after purchasing an additional 87,274 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Sprint by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 3,568,008 shares of the cell phone carrier’s stock valued at $27,759,000 after purchasing an additional 75,465 shares during the period. Institutional investors own 13.63% of the company’s stock.
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Sprint 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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