BlueCrest Capital Management Ltd acquired a new stake in Sprint Corp (NYSE:S) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 33,731 shares of the cell phone carrier’s stock, valued at approximately $199,000.
A number of other large investors have also made changes to their positions in the business. Swiss National Bank grew its stake in Sprint by 0.4% in the 4th quarter. Swiss National Bank now owns 2,945,151 shares of the cell phone carrier’s stock valued at $17,347,000 after purchasing an additional 10,900 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Sprint by 5.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 233,970 shares of the cell phone carrier’s stock worth $1,378,000 after acquiring an additional 11,800 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Sprint by 54.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,946 shares of the cell phone carrier’s stock worth $264,000 after acquiring an additional 11,970 shares during the period. Commerce Bank bought a new position in shares of Sprint during the 3rd quarter worth $100,000. Finally, Toronto Dominion Bank grew its stake in shares of Sprint by 39.7% during the 4th quarter. Toronto Dominion Bank now owns 47,111 shares of the cell phone carrier’s stock worth $278,000 after acquiring an additional 13,396 shares during the period. Hedge funds and other institutional investors own 13.62% of the company’s stock.
In other Sprint news, major shareholder Group Corp Softbank purchased 2,102,152 shares of the stock in a transaction on Thursday, December 28th. The shares were purchased at an average price of $5.92 per share, with a total value of $12,444,739.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased a total of 40,391,388 shares of company stock worth $233,862,444 in the last three months. 0.18% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on the company. KeyCorp set a $5.00 price target on Sprint and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Vetr downgraded Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price target for the company. in a research note on Thursday, January 4th. TheStreet downgraded Sprint from a “c-” rating to a “d+” rating in a research note on Tuesday, December 19th. Citigroup reiterated a “neutral” rating and set a $6.50 price target (down previously from $7.50) on shares of Sprint in a research note on Thursday, February 8th. Finally, Deutsche Bank cut their price target on Sprint to $5.50 and set a “hold” rating for the company in a research note on Monday, December 11th. Ten 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. The stock currently has a consensus rating of “Hold” and an average target price of $6.02.
Shares of S stock opened at $5.19 on Wednesday. The stock has a market capitalization of $21,456.28, a PE ratio of 3.00 and a beta of 0.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.92. Sprint Corp has a 1-year low of $4.91 and a 1-year high of $9.22.
Sprint (NYSE:S) last issued its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.19 billion. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.46) EPS. analysts expect that Sprint Corp will post 1.75 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “BlueCrest Capital Management Ltd Invests $199,000 in Sprint Corp (S) Stock” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/03/21/bluecrest-capital-management-ltd-invests-199000-in-sprint-corp-s-stock.html.
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.
Want to see what other hedge funds are holding S? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprint Corp (NYSE:S).
Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.