Northern Trust Corp grew its position in Sprint Corp (NYSE:S) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,428,984 shares of the cell phone carrier’s stock after buying an additional 125,716 shares during the period. Northern Trust Corp owned 0.14% of Sprint worth $26,494,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Sprint by 11.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,555,050 shares of the cell phone carrier’s stock worth $9,160,000 after purchasing an additional 155,196 shares during the period. Aperio Group LLC boosted its position in shares of Sprint by 7.2% during the 4th quarter. Aperio Group LLC now owns 266,211 shares of the cell phone carrier’s stock worth $1,568,000 after purchasing an additional 17,857 shares during the period. ING Groep NV purchased a new position in shares of Sprint during the 4th quarter worth approximately $188,000. Teacher Retirement System of Texas boosted its position in shares of Sprint by 1,911.9% during the 4th quarter. Teacher Retirement System of Texas now owns 218,876 shares of the cell phone carrier’s stock worth $1,289,000 after purchasing an additional 207,997 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Sprint by 5.0% during the 4th quarter. California Public Employees Retirement System now owns 1,529,510 shares of the cell phone carrier’s stock worth $9,009,000 after purchasing an additional 72,710 shares during the period. 12.69% of the stock is owned by institutional investors and hedge funds.
In other news, insider John Saw sold 88,319 shares of the firm’s stock in a transaction on Friday, April 27th. The shares were sold at an average price of $6.50, for a total value of $574,073.50. Following the sale, the insider now directly owns 1,149,057 shares in the company, valued at approximately $7,468,870.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.
Shares of S opened at $5.35 on Friday. Sprint Corp has a twelve month low of $4.81 and a twelve month high of $8.92. The firm has a market capitalization of $22.14 billion, a PE ratio of 138.25 and a beta of 0.63. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 1.42.
Sprint (NYSE:S) last announced its quarterly earnings data on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.09. Sprint had a net margin of 22.80% and a return on equity of 0.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period last year, the business earned ($0.07) EPS. The company’s revenue was down 5.3% on a year-over-year basis. equities analysts expect that Sprint Corp will post -0.04 EPS for the current year.
Several equities analysts have commented on the stock. SunTrust Banks decreased their price target on shares of Sprint to $6.50 and set a “hold” rating for the company in a research report on Tuesday, May 8th. Gabelli reissued a “hold” rating on shares of Sprint in a research report on Tuesday, April 24th. Jefferies Financial Group raised shares of Sprint from an “underperform” rating to a “hold” rating and set a $4.50 price target for the company in a research report on Tuesday, May 1st. Wells Fargo & Co cut shares of Sprint from an “outperform” rating to a “market perform” rating in a research report on Monday, April 30th. Finally, Macquarie raised shares of Sprint from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $6.00 to $5.00 in a research report on Wednesday, April 18th. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.93.
Sprint Company 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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