Voya Investment Management LLC Decreases Stake in Sprint Corporation (S)

Voya Investment Management LLC cut its holdings in Sprint Corporation (NYSE:S) by 70.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 66,382 shares of the cell phone carrier’s stock after selling 162,071 shares during the period. Voya Investment Management LLC’s holdings in Sprint Corporation were worth $545,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Counselors Inc. boosted its stake in Sprint Corporation by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares during the period. Advisors Asset Management Inc. boosted its stake in Sprint Corporation by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after purchasing an additional 318 shares during the period. Ronald Blue & Co. LLC boosted its stake in Sprint Corporation by 1.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 21,648 shares of the cell phone carrier’s stock valued at $178,000 after purchasing an additional 326 shares during the period. Pacer Advisors Inc. boosted its stake in Sprint Corporation by 1.9% during the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after purchasing an additional 500 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Sprint Corporation by 4.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock valued at $359,000 after purchasing an additional 1,898 shares during the period. 13.90% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. Cowen and Company reissued a “market perform” rating and set a $6.50 target price on shares of Sprint Corporation in a research note on Tuesday, August 8th. Vetr lowered shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 target price for the company. in a research note on Thursday. Barclays PLC reissued a “neutral” rating and set a $8.00 target price on shares of Sprint Corporation in a research note on Wednesday, August 9th. Moffett Nathanson restated a “sell” rating on shares of Sprint Corporation in a research report on Thursday, October 12th. Finally, Nomura restated a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of Sprint Corporation in a research report on Thursday, October 26th. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $10.13.

Shares of Sprint Corporation (S) opened at $6.67 on Friday. Sprint Corporation has a 1-year low of $6.05 and a 1-year high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80.

Sprint Corporation (NYSE:S) last released its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Sprint Corporation had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. equities research analysts expect that Sprint Corporation will post -0.02 earnings per share for the current year.

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Sprint Corporation 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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