Nomura Holdings Inc. trimmed its stake in Sprint Corp (NYSE:S) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,002 shares of the cell phone carrier’s stock after selling 100,137 shares during the period. Nomura Holdings Inc.’s holdings in Sprint were worth $2,704,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keybank National Association OH lifted its stake in shares of Sprint by 3.9% in the 2nd quarter. Keybank National Association OH now owns 247,329 shares of the cell phone carrier’s stock worth $1,345,000 after acquiring an additional 9,252 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Sprint by 6.9% in the second quarter. CIBC Asset Management Inc now owns 166,225 shares of the cell phone carrier’s stock valued at $904,000 after purchasing an additional 10,728 shares during the period. Highstreet Asset Management Inc. lifted its stake in shares of Sprint by 17.7% in the second quarter. Highstreet Asset Management Inc. now owns 75,878 shares of the cell phone carrier’s stock valued at $413,000 after purchasing an additional 11,427 shares during the period. Andra AP fonden lifted its stake in shares of Sprint by 2.2% in the second quarter. Andra AP fonden now owns 725,700 shares of the cell phone carrier’s stock valued at $3,948,000 after purchasing an additional 15,700 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Sprint by 1,223.7% in the second quarter. Tower Research Capital LLC TRC now owns 19,855 shares of the cell phone carrier’s stock valued at $108,000 after purchasing an additional 18,355 shares during the period. 13.05% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider John Saw sold 260,095 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $6.14, for a total value of $1,596,983.30. Following the completion of the sale, the insider now owns 1,333,982 shares of the company’s stock, valued at $8,190,649.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.
Shares of NYSE S traded up $0.20 during trading on Friday, reaching $6.41. 7,666,981 shares of the stock were exchanged, compared to its average volume of 13,511,842. The stock has a market cap of $26.18 billion, a P/E ratio of 91.57 and a beta of 0.81. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 1.28. Sprint Corp has a twelve month low of $4.81 and a twelve month high of $7.26.
Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, August 1st. The cell phone carrier reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share.
Several equities analysts have weighed in on S shares. Zacks Investment Research downgraded shares of Sprint from a “buy” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine upgraded shares of Sprint from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Wells Fargo & Co restated a “buy” rating on shares of Sprint in a report on Thursday, June 28th. Finally, Barclays began coverage on shares of Sprint in a report on Wednesday, June 27th. They issued an “equal weight” rating and a $6.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.81.
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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