Sprint Corp (S) Short Interest Up 5.1% in November

Sprint Corp (NYSE:S) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 102,989,327 shares, a growth of 5.1% from the October 31st total of 98,029,445 shares. Approximately 17.6% of the company’s stock are sold short. Based on an average daily volume of 16,761,790 shares, the short-interest ratio is currently 6.1 days.

In related news, insider Jorge Enrique Gracia sold 129,652 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total transaction of $827,179.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Fisher sold 327,525 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the sale, the director now directly owns 2,419,275 shares of the company’s stock, valued at approximately $14,999,505. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of S. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Sprint by 5.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,310,428 shares of the cell phone carrier’s stock worth $12,569,000 after purchasing an additional 113,323 shares during the last quarter. First Trust Advisors LP boosted its holdings in Sprint by 114.4% in the second quarter. First Trust Advisors LP now owns 2,451,036 shares of the cell phone carrier’s stock worth $13,334,000 after purchasing an additional 1,308,054 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in shares of Sprint during the 2nd quarter worth $9,637,000. Price Capital Management Inc. purchased a new position in shares of Sprint during the 2nd quarter worth $754,000. Finally, Financial Counselors Inc. purchased a new position in shares of Sprint during the 2nd quarter worth $100,000. Institutional investors own 12.95% of the company’s stock.

Several brokerages recently weighed in on S. Zacks Investment Research downgraded shares of Sprint from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine raised shares of Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Sprint has an average rating of “Hold” and a consensus target price of $5.65.

Shares of S stock opened at $6.27 on Tuesday. Sprint has a 12-month low of $4.81 and a 12-month high of $6.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.05 and a current ratio of 1.12. The company has a market capitalization of $25.14 billion, a P/E ratio of 89.57, a P/E/G ratio of 6.22 and a beta of 0.71.

Sprint (NYSE:S) last issued its earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The company had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that Sprint will post 0.05 EPS for the current year.

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Sprint Company Profile

Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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