NWI Management LP Has $8.83 Million Holdings in Sprint Corp (S)

NWI Management LP trimmed its stake in Sprint Corp (NYSE:S) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,350,000 shares of the cell phone carrier’s stock after selling 600,000 shares during the period. Sprint accounts for about 0.6% of NWI Management LP’s investment portfolio, making the stock its 24th biggest holding. NWI Management LP’s holdings in Sprint were worth $8,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of S. Financial Counselors Inc. purchased a new stake in shares of Sprint in the 2nd quarter worth about $100,000. Oakbrook Investments LLC bought a new position in shares of Sprint in the 3rd quarter worth about $102,000. Tower Research Capital LLC TRC increased its stake in shares of Sprint by 1,223.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,855 shares of the cell phone carrier’s stock worth $108,000 after acquiring an additional 18,355 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Sprint in the 3rd quarter worth about $112,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of Sprint in the 2nd quarter worth about $136,000. 12.95% of the stock is owned by hedge funds and other institutional investors.

Shares of S stock traded up $0.09 during trading hours on Friday, reaching $6.22. The company had a trading volume of 222,892 shares, compared to its average volume of 13,024,366. Sprint Corp has a one year low of $4.81 and a one year high of $6.62. The firm has a market capitalization of $24.66 billion, a PE ratio of 88.64, a P/E/G ratio of 6.10 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Sprint (NYSE:S) last announced its quarterly earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The firm had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that Sprint Corp will post 0.05 earnings per share for the current year.

Separately, Zacks Investment Research upgraded shares of Sprint from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Sprint presently has an average rating of “Hold” and a consensus price target of $5.65.

In related news, Director Ronald D. Fisher sold 327,525 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $6.20, for a total value of $2,030,655.00. Following the transaction, the director now owns 2,419,275 shares of the company’s stock, valued at $14,999,505. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jorge Enrique Gracia sold 129,652 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $6.38, for a total transaction of $827,179.76. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

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About Sprint

Sprint Corporation, together with 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 United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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Institutional Ownership by Quarter for Sprint (NYSE:S)

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