Econ Financial Services Corp grew its position in shares of Sprint Corp (NYSE:S) by 31.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,458 shares of the cell phone carrier’s stock after acquiring an additional 3,244 shares during the quarter. Econ Financial Services Corp’s holdings in Sprint were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC purchased a new position in Sprint in the first quarter worth $405,000. Private Capital Group LLC boosted its position in Sprint by 51.7% in the fourth quarter. Private Capital Group LLC now owns 6,002 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 2,045 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Sprint in the fourth quarter worth $36,000. Harwood Advisory Group LLC purchased a new position in Sprint in the first quarter worth $62,000. Finally, NuWave Investment Management LLC boosted its position in Sprint by 1,200.7% in the first quarter. NuWave Investment Management LLC now owns 10,991 shares of the cell phone carrier’s stock worth $62,000 after purchasing an additional 10,146 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.
A number of brokerages have recently commented on S. Macquarie reaffirmed a “hold” rating and set a $5.50 price target on shares of Sprint in a research report on Sunday, May 12th. William Blair reaffirmed an “underperform” rating on shares of Sprint in a research report on Monday, February 11th. ValuEngine cut Sprint from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Cowen reaffirmed a “hold” rating and set a $4.50 price target on shares of Sprint in a research report on Monday, February 4th. Finally, Raymond James cut Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 price target on the stock. in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.71.
Shares of S opened at $6.18 on Monday. The stock has a market cap of $24.74 billion, a P/E ratio of 618.00 and a beta of 0.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 1.06. Sprint Corp has a 52-week low of $5.04 and a 52-week high of $6.61.
Sprint (NYSE:S) last announced its earnings results on Tuesday, May 7th. The cell phone carrier reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. Sprint’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, research analysts expect that Sprint Corp will post -0.07 EPS for the current year.
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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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