Sprint Corp (S) Position Trimmed by Sei Investments Co.

Sei Investments Co. decreased its holdings in shares of Sprint Corp (NYSE:S) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 757,777 shares of the cell phone carrier’s stock after selling 251,356 shares during the quarter. Sei Investments Co.’s holdings in Sprint were worth $3,698,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in S. Westside Investment Management Inc. boosted its stake in Sprint by 872.7% during the 4th quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock valued at $101,000 after purchasing an additional 15,692 shares during the period. BancorpSouth Bank bought a new stake in Sprint during the 4th quarter valued at approximately $104,000. Wetherby Asset Management Inc. bought a new stake in Sprint during the 1st quarter valued at approximately $126,000. Delpha Capital Management LLC bought a new stake in Sprint during the 4th quarter valued at approximately $131,000. Finally, Aspiriant LLC bought a new stake in Sprint during the 1st quarter valued at approximately $151,000. Hedge funds and other institutional investors own 12.69% of the company’s stock.

In other news, insider John Saw sold 88,319 shares of the stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $6.50, for a total value of $574,073.50. Following the completion of the transaction, the insider now directly owns 1,149,057 shares of the company’s stock, valued at approximately $7,468,870.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.



S has been the subject of a number of research reports. SunTrust Banks reduced their price objective on Sprint to $6.50 and set a “hold” rating for the company in a research report on Tuesday, May 8th. Gabelli reiterated a “hold” rating on shares of Sprint in a research report on Tuesday, April 24th. Jefferies Financial Group upgraded Sprint from an “underperform” rating to a “hold” rating and set a $4.50 price objective for the company in a research report on Tuesday, May 1st. Wells Fargo & Co downgraded Sprint from an “outperform” rating to a “market perform” rating in a research report on Monday, April 30th. Finally, Macquarie upgraded Sprint from an “underperform” rating to a “neutral” rating and reduced their price objective for the stock 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 given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.93.

Shares of Sprint opened at $5.55 on Tuesday, according to MarketBeat. Sprint Corp has a 1 year low of $4.81 and a 1 year high of $8.92. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $21.98 billion, a PE ratio of 137.25 and a beta of 0.63.

Sprint (NYSE:S) last issued its earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.09. Sprint had a return on equity of 0.69% and a net margin of 22.80%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period in the prior year, the firm posted ($0.07) EPS. Sprint’s quarterly revenue was down 5.3% compared to the same quarter last year. equities research analysts expect that Sprint Corp will post -0.04 earnings per share for the current year.

About Sprint

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.

Institutional Ownership by Quarter for Sprint (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.

Leave a Reply