Crossmark Global Holdings Inc. Buys Shares of 18,142 Sprint Corporation (S)

Crossmark Global Holdings Inc. bought a new stake in shares of Sprint Corporation (NYSE:S) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,142 shares of the cell phone carrier’s stock, valued at approximately $141,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Financial Counselors Inc. grew its holdings in Sprint by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in Sprint in the 2nd quarter worth $100,000. Summit Securities Group LLC bought a new stake in Sprint in the 2nd quarter worth $108,000. Advisors Asset Management Inc. grew its holdings in Sprint by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in Sprint by 17.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock worth $125,000 after acquiring an additional 2,210 shares during the last quarter. 13.74% of the stock is currently owned by institutional investors.

Shares of Sprint Corporation (NYSE:S) traded down $0.21 during midday trading on Wednesday, reaching $5.74. 15,245,301 shares of the company were exchanged, compared to its average volume of 15,118,537. Sprint Corporation has a one year low of $5.62 and a one year high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.

Sprint (NYSE:S) last issued its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. research analysts forecast that Sprint Corporation will post -0.03 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on S shares. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Tuesday, October 3rd. Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price target on the stock. in a report on Thursday, November 2nd. UBS reissued a “buy” rating and issued a $7.50 price target (down previously from $9.00) on shares of Sprint in a report on Monday, November 6th. KeyCorp reissued a “hold” rating on shares of Sprint in a report on Wednesday, October 11th. Finally, Deutsche Bank dropped their target price on shares of Sprint from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, October 10th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.19.

In related news, major shareholder Group Corp Softbank purchased 6,484,367 shares of Sprint stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average cost of $5.92 per share, for a total transaction of $38,387,452.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tarek Robbiati sold 363,529 shares of Sprint stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the sale, the chief financial officer now owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The disclosure for this sale can be found here. Insiders acquired 18,651,252 shares of company stock valued at $112,608,289 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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Sprint 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 (NYSE:S)

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