Sprint Corp (S) Stake Raised by Macquarie Group Ltd.

Macquarie Group Ltd. lifted its position in shares of Sprint Corp (NYSE:S) by 518.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,832 shares of the cell phone carrier’s stock after purchasing an additional 25,012 shares during the period. Macquarie Group Ltd.’s holdings in Sprint were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Financial Counselors Inc. lifted its position in Sprint by 1.7% in 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. Advisors Asset Management Inc. lifted its position in Sprint by 2.2% in 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. Pacer Advisors Inc. lifted its position in Sprint by 1.9% in the second quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after acquiring an additional 500 shares during the last quarter. Advisory Services Network LLC lifted its position in Sprint by 1.2% in the second quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after acquiring an additional 802 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Sprint by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock valued at $359,000 after acquiring an additional 1,898 shares during the last quarter. 13.74% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. Oppenheimer reissued a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Zacks Investment Research cut shares of Sprint from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Deutsche Bank reduced their price target 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. KeyCorp reissued a “hold” rating on shares of Sprint in a research report on Wednesday, October 11th. Finally, ValuEngine lowered shares of Sprint from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Sprint currently has a consensus rating of “Hold” and a consensus target price of $7.10.

In other news, CFO Tarek Robbiati sold 363,529 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the transaction, the chief financial officer now directly owns 1,901,974 shares in the company, valued at $11,411,844. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Group Corp Softbank purchased 6,484,367 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average price of $5.92 per share, for a total transaction of $38,387,452.64. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 26,921,846 shares of company stock worth $159,182,105 and have sold 913,236 shares worth $5,377,413. Insiders own 0.18% of the company’s stock.

Sprint Corp (NYSE S) opened at $5.58 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80. Sprint Corp has a one year low of $5.42 and a one year high of $9.65.

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

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About Sprint

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.

Institutional Ownership by Quarter for Sprint (NYSE:S)

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