Sprint Corp (S) Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in shares of Sprint Corp (NYSE:S) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,117,844 shares of the cell phone carrier’s stock after selling 98,266 shares during the period. California State Teachers Retirement System’s holdings in Sprint were worth $8,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of S. Janus Henderson Group PLC boosted its position in Sprint by 6,509.8% during the 2nd quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after buying an additional 7,070,812 shares during the period. Odey Asset Management Group Ltd boosted its position in Sprint by 107.3% during the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock valued at $66,706,000 after buying an additional 4,204,955 shares during the period. Naya Capital Management UK Ltd. boosted its position in Sprint by 67.1% during the 2nd quarter. Naya Capital Management UK Ltd. now owns 2,423,100 shares of the cell phone carrier’s stock valued at $19,894,000 after buying an additional 973,100 shares during the period. Koch Industries Inc. purchased a new stake in Sprint during the 2nd quarter valued at $434,000. Finally, Columbus Hill Capital Management L.P. purchased a new stake in Sprint during the 2nd quarter valued at $3,994,000. 13.74% of the stock is currently owned by institutional investors and hedge funds.

Sprint Corp (NYSE S) opened at $5.69 on Friday. 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 1-year low of $5.42 and a 1-year high of $9.65. The stock has a market cap of $22,760.00, a P/E ratio of -37.93 and a beta of 0.79.

Sprint (NYSE:S) last issued its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. analysts expect that Sprint Corp will post -0.02 EPS for the current year.

In related news, CFO Tarek Robbiati sold 363,529 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the sale, the chief financial officer now owns 1,901,974 shares in the company, valued at $11,411,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Group Corp Softbank purchased 6,484,367 shares of Sprint stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired 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. In the last ninety days, insiders have acquired 60,020,155 shares of company stock worth $351,291,248 and have sold 913,236 shares worth $5,377,413. 0.18% of the stock is owned by insiders.

Several equities research analysts have recently commented on S shares. Oppenheimer reaffirmed a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Zacks Investment Research lowered shares of Sprint from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Deutsche Bank decreased their price target on shares of Sprint from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Sprint in a research note 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 research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Sprint currently has a consensus rating of “Hold” and a consensus target price of $6.72.

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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.

Institutional Ownership by Quarter for Sprint (NYSE:S)

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