State of New Jersey Common Pension Fund D Has $4.66 Million Stake in Sprint Corp (NYSE:S)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Sprint Corp (NYSE:S) by 75.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800,000 shares of the cell phone carrier’s stock after selling 2,400,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sprint were worth $4,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. IFM Investors Pty Ltd boosted its holdings in shares of Sprint by 4.7% in the 4th quarter. IFM Investors Pty Ltd now owns 50,928 shares of the cell phone carrier’s stock valued at $296,000 after buying an additional 2,281 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Sprint in the 4th quarter valued at $417,000. Bristlecone Advisors LLC acquired a new position in shares of Sprint in the 4th quarter valued at $58,000. DNB Asset Management AS boosted its holdings in shares of Sprint by 187.8% in the 4th quarter. DNB Asset Management AS now owns 330,120 shares of the cell phone carrier’s stock valued at $1,921,000 after buying an additional 215,400 shares in the last quarter. Finally, Cumberland Advisors Inc. acquired a new position in shares of Sprint in the 4th quarter valued at $774,000. 12.90% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ronald D. Fisher sold 327,525 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $6.20, for a total value of $2,030,655.00. Following the transaction, the director now owns 2,419,275 shares in the company, valued at $14,999,505. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

Shares of S stock opened at $6.13 on Thursday. The stock has a market cap of $24.62 billion, a PE ratio of 87.57, a P/E/G ratio of 5.84 and a beta of 0.53. Sprint Corp has a 1-year low of $4.81 and a 1-year high of $6.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.07 and a current ratio of 1.16.

Sprint (NYSE:S) last posted its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Sprint had a net margin of 0.90% and a return on equity of 1.08%. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the previous year, the business posted $1.76 EPS. Analysts forecast that Sprint Corp will post 0.05 earnings per share for the current fiscal year.

S has been the subject of a number of analyst reports. ValuEngine upgraded shares of Sprint from a “hold” rating to a “buy” rating in a research report on Tuesday, December 18th. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Tuesday, November 27th. William Blair reaffirmed an “underperform” rating on shares of Sprint in a research note on Monday. Finally, Cowen reaffirmed a “hold” rating and set a $4.50 price target on shares of Sprint in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.83.

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Sprint Company Profile

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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Institutional Ownership by Quarter for Sprint (NYSE:S)

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