IFM Investors Pty Ltd Invests $227,000 in Sprint Corporation (S) Stock

IFM Investors Pty Ltd purchased a new position in shares of Sprint Corporation (NYSE:S) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,707 shares of the cell phone carrier’s stock, valued at approximately $227,000.

A number of other large investors have also recently made changes to their positions in S. BlackRock Inc. grew its stake in Sprint Corporation by 4,924.2% during the 1st quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock valued at $340,355,000 after purchasing an additional 38,431,100 shares in the last quarter. Janus Capital Management LLC lifted its holdings in Sprint Corporation by 94.3% during the 1st 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 last quarter. Vanguard Group Inc. lifted its holdings in shares of Sprint Corporation by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock worth $326,977,000 after purchasing an additional 1,823,591 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Sprint Corporation by 3,264.7% in the 1st quarter. Prudential Financial Inc. now owns 1,589,645 shares of the cell phone carrier’s stock worth $13,798,000 after purchasing an additional 1,542,400 shares during the last quarter. Finally, UBS Oconnor LLC bought a new stake in shares of Sprint Corporation in the 1st quarter worth approximately $9,118,000. Institutional investors own 13.96% of the company’s stock.

S has been the topic of several research analyst reports. Cowen and Company reiterated a “market perform” rating and set a $6.50 price target on shares of Sprint Corporation in a research report on Tuesday, August 8th. Barclays PLC reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 9th. UBS AG reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. BidaskClub cut Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.26.

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Sprint Corporation (NYSE:S) traded down 0.26% during midday trading on Friday, hitting $7.73. The stock had a trading volume of 734,955 shares. The company’s market cap is $30.90 billion. The company’s 50 day moving average is $8.23 and its 200 day moving average is $8.33. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. Sprint Corporation also was the target of some unusual options trading activity on Wednesday. Investors acquired 2,058 put options on the stock. This is an increase of approximately 459% compared to the typical volume of 368 put options.

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

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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