Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Sprint Corporation (NYSE:S) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,580,769 shares of the cell phone carrier’s stock after selling 29,079 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sprint Corporation were worth $12,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in S. Capstone Asset Management Co. raised its position in Sprint Corporation by 9.2% during the first quarter. Capstone Asset Management Co. now owns 18,432 shares of the cell phone carrier’s stock worth $160,000 after acquiring an additional 1,552 shares during the last quarter. Nationwide Fund Advisors acquired a new position in shares of Sprint Corporation in the first quarter valued at approximately $2,862,000. Glen Harbor Capital Management LLC raised its position in shares of Sprint Corporation by 475.3% in the first quarter. Glen Harbor Capital Management LLC now owns 36,380 shares of the cell phone carrier’s stock valued at $316,000 after buying an additional 30,056 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Sprint Corporation by 17.6% in the first quarter. Shell Asset Management Co. now owns 45,764 shares of the cell phone carrier’s stock valued at $397,000 after buying an additional 6,865 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Sprint Corporation by 801.8% in the first quarter. Russell Investments Group Ltd. now owns 796,104 shares of the cell phone carrier’s stock valued at $6,904,000 after buying an additional 707,821 shares during the last quarter. Institutional investors own 13.96% of the company’s stock.

Shares of Sprint Corporation (NYSE:S) opened at 7.97 on Friday. The stock’s market capitalization is $31.86 billion. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. The firm’s 50-day moving average is $8.34 and its 200 day moving average is $8.38.

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

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In related news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

S has been the subject of a number of analyst reports. HSBC Holdings plc reissued a “reduce” rating and issued a $7.20 price objective on shares of Sprint Corporation in a research report on Friday, June 16th. ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reissued a “market perform” rating and issued a $6.50 price objective on shares of Sprint Corporation in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Jefferies Group LLC reissued an “underperform” rating on shares of Sprint Corporation in a research report on Friday, June 30th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.26.

About Sprint Corporation

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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