Utah Retirement Systems reduced its position in shares of Sprint Corporation (NYSE:S) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,181 shares of the cell phone carrier’s stock after selling 23,000 shares during the period. Utah Retirement Systems’ holdings in Sprint Corporation were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in S. BlackRock Inc. boosted its position in shares of Sprint Corporation by 4,924.2% during the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after buying an additional 38,431,100 shares during the period. Janus Capital Management LLC boosted its position in shares of Sprint Corporation by 94.3% during the first quarter. Janus Capital Management LLC now owns 6,689,392 shares of the cell phone carrier’s stock worth $58,064,000 after buying an additional 3,247,400 shares during the period. Vanguard Group Inc. boosted its position in shares of Sprint Corporation by 5.1% during the first quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock worth $326,977,000 after buying an additional 1,823,591 shares during the period. Prudential Financial Inc. boosted its position in shares of Sprint Corporation by 3,264.7% during the first quarter. Prudential Financial Inc. now owns 1,589,645 shares of the cell phone carrier’s stock worth $13,798,000 after buying an additional 1,542,400 shares during the period. Finally, UBS Oconnor LLC purchased a new position in shares of Sprint Corporation during the first quarter worth $9,118,000. Institutional investors and hedge funds own 13.96% of the company’s stock.

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Several brokerages have recently issued reports on S. BidaskClub cut Sprint Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Barclays PLC reiterated a “neutral” rating and issued a $8.00 price objective on shares of Sprint Corporation in a research note on Wednesday, August 9th. Cowen and Company reiterated a “market perform” rating and issued a $6.50 price objective on shares of Sprint Corporation in a research note on Tuesday, August 8th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Finally, UBS AG reiterated a “neutral” rating and issued a $9.00 price objective on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. Sprint Corporation has a consensus rating of “Hold” and an average target price of $10.26.

Sprint Corporation (NYSE S) opened at 7.74 on Friday. The stock’s market cap is $30.94 billion. The firm’s 50 day moving average price is $8.32 and its 200 day moving average price is $8.37. Sprint Corporation has a one year low of $5.83 and a one year high of $9.65.

Sprint Corporation (NYSE:S) last issued its earnings results 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. The business 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 in the prior year, the business posted ($0.08) EPS. Equities analysts forecast that Sprint Corporation will post ($0.83) earnings per share for the current year.

In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.

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

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