Nomura Holdings Inc. boosted its stake in Sprint Corporation (NYSE:S) by 673.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,166 shares of the cell phone carrier’s stock after purchasing an additional 67,139 shares during the quarter. Nomura Holdings Inc.’s holdings in Sprint Corporation were worth $449,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. bought a new stake in shares of Sprint Corporation in the second quarter worth about $100,000. Financial Counselors Inc. increased its holdings in shares of Sprint Corporation by 1.7% in the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Sprint Corporation in the second quarter worth about $108,000. Advisors Asset Management Inc. increased its holdings in shares of Sprint Corporation by 2.2% in the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Sprint Corporation in the second quarter worth about $125,000. Institutional investors own 13.95% of the company’s stock.
Several equities research analysts have issued reports on the company. Cowen and Company restated a “market perform” rating and issued a $6.50 price target on shares of Sprint Corporation in a report on Tuesday, August 8th. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint Corporation in a research report on Thursday, October 12th. Barclays PLC reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Sprint Corporation in a research report on Wednesday, August 9th. BidaskClub cut Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, UBS AG reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. Sprint Corporation has an average rating of “Hold” and an average price target of $10.18.
Shares of Sprint Corporation (NYSE S) opened at 6.93 on Friday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The firm’s market capitalization is $27.70 billion. The stock has a 50 day moving average price of $7.65 and a 200-day moving average price of $8.15.
Sprint Corporation (NYSE:S) last announced its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The firm had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current year.
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About Sprint Corporation
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.
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