Sprint Corp (S) Short Interest Update

Sprint Corp (NYSE:S) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 104,890,897 shares, a decrease of 8.6% from the November 30th total of 114,741,511 shares. Based on an average daily volume of 17,714,719 shares, the days-to-cover ratio is currently 5.9 days. Currently, 17.0% of the shares of the company are short sold.

Several research firms recently weighed in on S. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint in a research note on Thursday, October 12th. KeyCorp set a $5.00 price target on Sprint and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Oppenheimer reissued a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. TheStreet downgraded Sprint from a “c-” rating to a “d+” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research downgraded Sprint from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Sprint has an average rating of “Hold” and an average price target of $6.72.

In other news, CFO Tarek Robbiati sold 363,529 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $6.00, for a total value of $2,181,174.00. Following the completion of the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at approximately $11,411,844. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group Corp Softbank purchased 6,484,367 shares of Sprint stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average cost of $5.92 per share, with a total value of $38,387,452.64. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 60,020,155 shares of company stock valued at $351,291,248 and sold 913,236 shares valued at $5,377,413. 0.18% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Counselors Inc. increased its position in shares of Sprint by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the last quarter. Commerce Bank purchased a new stake in shares of Sprint during the third quarter worth about $100,000. Advisors Asset Management Inc. increased its position in shares of Sprint by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Sprint during the third quarter worth about $141,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Sprint during the third quarter worth about $156,000. 13.74% of the stock is currently owned by institutional investors and hedge funds.

Sprint (S) opened at $5.69 on Friday. Sprint has a fifty-two week low of $5.42 and a fifty-two week high of $9.65. The firm has a market capitalization of $22,760.00, a price-to-earnings ratio of -37.93 and a beta of 0.79. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.

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

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Sprint Company 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.

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