Edgestream Partners L.P. Invests $335,000 in Sprint Corporation (S)

Edgestream Partners L.P. bought a new stake in shares of Sprint Corporation (NYSE:S) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,773 shares of the cell phone carrier’s stock, valued at approximately $335,000.

Several other hedge funds have also made changes to their positions in S. Commonwealth Bank of Australia raised its position in shares of Sprint Corporation by 1.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,130,883 shares of the cell phone carrier’s stock worth $9,283,000 after purchasing an additional 19,757 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Sprint Corporation by 15.2% in the 2nd quarter. Private Advisor Group LLC now owns 23,134 shares of the cell phone carrier’s stock worth $190,000 after purchasing an additional 3,048 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in shares of Sprint Corporation in the 2nd quarter worth about $227,000. Swiss National Bank raised its position in shares of Sprint Corporation by 3.0% in the 2nd quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock worth $23,853,000 after purchasing an additional 83,900 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Sprint Corporation in the 2nd quarter worth about $507,000. Hedge funds and other institutional investors own 13.95% of the company’s stock.

Sprint Corporation (S) opened at 8.52 on Friday. The company’s 50 day moving average price is $8.20 and its 200-day moving average price is $8.31. Sprint Corporation has a 52 week low of $5.83 and a 52 week high of $9.65. The company’s market capitalization is $34.05 billion.

Sprint Corporation (NYSE:S) last announced its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. Equities research analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.

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S has been the subject of several recent analyst reports. ValuEngine raised Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. HSBC Holdings plc reaffirmed a “reduce” rating and issued a $7.20 price target on shares of Sprint Corporation in a research report on Friday, June 16th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $10.26.

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.

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

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