Sprint Corporation (NYSE:S) Short Interest Update

Sprint Corporation (NYSE:S) was the target of a large drop in short interest during the month of September. As of September 29th, there was short interest totalling 92,339,462 shares, a drop of 4.7% from the September 15th total of 96,917,925 shares. Currently, 14.0% of the shares of the company are short sold. Based on an average daily volume of 19,556,179 shares, the short-interest ratio is currently 4.7 days.

S has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, October 3rd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Sprint Corporation in a research report on Wednesday, September 20th. Royal Bank Of Canada restated a “hold” rating and issued a $8.00 target price on shares of Sprint Corporation in a research report on Sunday, July 9th. Cowen and Company restated a “hold” rating and issued a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG cut their target price on shares of Sprint Corporation from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.26.

Shares of Sprint Corporation (NYSE S) opened at 6.99 on Friday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The company’s market capitalization is $27.94 billion. The stock’s 50 day moving average is $7.57 and its 200 day moving average is $8.12.

Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts expect that Sprint Corporation will post ($0.83) EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of S. Wetherby Asset Management Inc. acquired a new position in shares of Sprint Corporation during the second quarter valued at about $100,000. Financial Counselors Inc. increased its holdings in Sprint Corporation 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 buying an additional 201 shares during the period. Summit Securities Group LLC acquired a new position in Sprint Corporation in the 2nd quarter worth approximately $108,000. Advisors Asset Management Inc. increased its holdings in Sprint Corporation 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 buying an additional 318 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Sprint Corporation in the 2nd quarter worth approximately $125,000. Hedge funds and other institutional investors own 13.95% of the company’s stock.

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About Sprint Corporation

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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