Sprint Corporation (S) Stake Lessened by Northern Trust Corp

Northern Trust Corp cut its holdings in Sprint Corporation (NYSE:S) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,266,258 shares of the cell phone carrier’s stock after selling 346,002 shares during the period. Northern Trust Corp owned about 0.13% of Sprint Corporation worth $43,235,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Overbrook Management Corp bought a new position in shares of Sprint Corporation in the second quarter valued at approximately $3,564,000. Swiss National Bank grew its holdings in shares of Sprint Corporation by 3.0% in the second quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock valued at $23,853,000 after acquiring an additional 83,900 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Sprint Corporation by 132.6% in the second quarter. Gateway Investment Advisers LLC now owns 97,701 shares of the cell phone carrier’s stock valued at $802,000 after acquiring an additional 55,704 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Sprint Corporation by 16.8% in the first quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock valued at $5,605,000 after acquiring an additional 93,034 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Sprint Corporation in the second quarter valued at approximately $125,000. 13.95% of the stock is owned by institutional investors.

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Sprint Corporation (S) opened at 7.14 on Wednesday. The stock has a 50 day moving average price of $7.93 and a 200-day moving average price of $8.23. The company’s market capitalization is $28.54 billion. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65.

Sprint Corporation (NYSE:S) last issued its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts predict that Sprint Corporation will post ($0.83) EPS for the current fiscal year.

Several equities analysts have recently issued reports on S shares. HSBC Holdings plc reaffirmed a “reduce” rating and issued a $7.20 target price on shares of Sprint Corporation in a report on Friday, June 16th. Zacks Investment Research raised Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Tuesday, October 3rd. Cowen and Company reaffirmed a “market perform” rating and issued a $6.50 target price on shares of Sprint Corporation in a report on Wednesday, August 2nd. BidaskClub lowered Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC reaffirmed an “underperform” rating on shares of Sprint Corporation in a report on Friday, June 30th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Sprint Corporation currently has a consensus rating of “Hold” and an average price target of $10.10.

Sprint Corporation 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.

Institutional Ownership by Quarter for Sprint Corporation (NYSE:S)

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