Sprint Corp (NYSE:S) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 105,030,000 shares, a decline of 5.7% from the September 30th total of 111,360,000 shares. Approximately 17.2% of the company’s stock are short sold. Based on an average daily volume of 12,660,000 shares, the days-to-cover ratio is currently 8.3 days.

A number of equities research analysts have recently weighed in on the stock. Barclays reissued a “hold” rating and set a $6.00 price objective on shares of Sprint in a report on Tuesday, October 15th. ValuEngine upgraded shares of Sprint from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, UBS Group upgraded shares of Sprint from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.50 to $10.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Sprint currently has a consensus rating of “Hold” and a consensus target price of $6.43.

Shares of NYSE:S traded down $0.10 during midday trading on Tuesday, hitting $5.77. The stock had a trading volume of 2,948,443 shares, compared to its average volume of 15,791,110. The company has a market capitalization of $23.98 billion, a PE ratio of 576.50 and a beta of 0.28. The stock has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $6.63. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 1.50. Sprint has a 1 year low of $5.44 and a 1 year high of $8.06.

Sprint (NYSE:S) last issued its earnings results on Monday, November 4th. The cell phone carrier reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). Sprint had a negative net margin of 8.19% and a negative return on equity of 2.63%. The firm had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $8.17 billion. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s revenue was down 7.6% on a year-over-year basis. As a group, equities analysts expect that Sprint will post -0.11 EPS for the current year.

In other Sprint news, CTO John Saw sold 189,531 shares of Sprint stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.83, for a total value of $1,294,496.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.39% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in S. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Sprint by 1.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 536,140 shares of the cell phone carrier’s stock worth $3,030,000 after acquiring an additional 5,414 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in Sprint during the 2nd quarter worth $325,000. Xact Kapitalforvaltning AB grew its position in Sprint by 23.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 136,718 shares of the cell phone carrier’s stock worth $898,000 after purchasing an additional 25,877 shares during the last quarter. Havens Advisors LLC grew its position in Sprint by 223.6% during the 2nd quarter. Havens Advisors LLC now owns 411,000 shares of the cell phone carrier’s stock worth $2,700,000 after purchasing an additional 284,000 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Sprint by 24.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 309,573 shares of the cell phone carrier’s stock worth $2,034,000 after purchasing an additional 60,200 shares during the last quarter. Institutional investors own 14.12% of the company’s stock.

About Sprint

Sprint Corporation, together with 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 United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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