Global X MANAGEMENT CO LLC Sells 7,694 Shares of Sprint Corporation (S)
Global X MANAGEMENT CO LLC cut its holdings in Sprint Corporation (NYSE:S) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,951 shares of the cell phone carrier’s stock after selling 7,694 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Sprint Corporation were worth $863,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Financial Counselors Inc. grew its position in Sprint Corporation by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares during the last quarter. Advisors Asset Management Inc. grew its position in Sprint Corporation by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after purchasing an additional 318 shares during the last quarter. Ronald Blue & Co. LLC grew its position in Sprint Corporation by 1.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 21,648 shares of the cell phone carrier’s stock valued at $178,000 after purchasing an additional 326 shares during the last quarter. Pacer Advisors Inc. grew its position in Sprint Corporation by 1.9% during the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after purchasing an additional 500 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Sprint Corporation by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after purchasing an additional 802 shares during the last quarter. 13.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Group Corp Softbank acquired 4,322,990 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $6.21 per share, with a total value of $26,845,767.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tarek Robbiati sold 363,529 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 14,011,018 shares of company stock worth $84,839,626. 0.18% of the stock is owned by company insiders.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Tuesday, October 3rd. Vetr cut shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 target price on the stock. in a research note on Thursday, November 2nd. UBS AG restated a “buy” rating and set a $7.50 target price (down previously from $9.00) on shares of Sprint Corporation in a research note on Monday, November 6th. KeyCorp restated a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG lowered their target price on shares of Sprint Corporation from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $9.65.
Shares of Sprint Corporation (S) opened at $6.16 on Thursday. Sprint Corporation has a one year low of $5.62 and a one year high of $9.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03.
Sprint Corporation (NYSE:S) last released its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Sprint Corporation had a negative net margin of 1.82% and a negative return on equity of 3.19%. The company had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter last year, the business earned ($0.04) EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. sell-side analysts expect that Sprint Corporation will post -0.02 earnings per share for the current year.
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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.
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