Robeco Institutional Asset Management B.V. increased its holdings in Sprint Co. (NYSE:S) by 98.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,066 shares of the cell phone carrier’s stock after purchasing an additional 82,968 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Sprint were worth $816,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in S. Daiwa Securities Group Inc. increased its stake in Sprint by 1,017.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 283,598 shares of the cell phone carrier’s stock worth $1,671,000 after buying an additional 258,219 shares in the last quarter. Banco de Sabadell S.A purchased a new stake in Sprint during the 4th quarter worth approximately $176,000. NuWave Investment Management LLC purchased a new stake in Sprint during the 4th quarter worth approximately $496,000. Bank of New York Mellon Corp increased its stake in 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 worth $21,693,000 after buying an additional 87,274 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Sprint during the 4th quarter worth approximately $292,000. 12.68% of the stock is owned by institutional investors.
Get Sprint alerts:In related news, insider John Saw sold 88,319 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $6.50, for a total value of $574,073.50. Following the transaction, the insider now directly owns 1,149,057 shares in the company, valued at $7,468,870.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.
Several research firms have commented on S. Citigroup boosted their price objective on Sprint from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. Guggenheim upgraded Sprint from a “sell” rating to a “neutral” rating and set a $4.50 price objective for the company in a research note on Monday, April 30th. Wells Fargo & Co lowered Sprint from an “outperform” rating to a “market perform” rating in a research note on Monday, April 30th. ValuEngine upgraded Sprint from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 11th. Finally, Gabelli reiterated a “hold” rating on shares of Sprint in a research note on Tuesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Sprint currently has an average rating of “Hold” and an average target price of $5.91.
S stock opened at $5.15 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $20.58 billion, a PE ratio of 128.50 and a beta of 0.66. Sprint Co. has a 1 year low of $4.81 and a 1 year high of $9.02.
Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.99 billion. Sprint had a return on equity of 0.73% and a net margin of 22.80%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. equities research analysts predict that Sprint Co. will post -0.05 EPS for the current fiscal year.
Sprint Profile
Sprint Corporation, through 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 U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.
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