Trexquant Investment LP increased its stake in shares of Sprint Corp (NYSE:S) by 100.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,214 shares of the cell phone carrier’s stock after buying an additional 18,114 shares during the period. Trexquant Investment LP’s holdings in Sprint were worth $282,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Financial Counselors Inc. boosted its holdings in shares of Sprint by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after buying an additional 201 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in Sprint in the 2nd quarter valued at $100,000. Commerce Bank bought a new stake in Sprint in the 3rd quarter valued at $100,000. Summit Securities Group LLC bought a new stake in Sprint in the 2nd quarter valued at $108,000. Finally, Advisors Asset Management Inc. raised its stake in Sprint by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after acquiring an additional 318 shares during the period. 13.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Sprint Corp (NYSE:S) traded down $0.02 during mid-day trading on Friday, reaching $5.89. The company’s stock had a trading volume of 10,284,504 shares, compared to its average volume of 16,316,360. The company has a market capitalization of $23,642.04, a P/E ratio of -39.26 and a beta of 0.79. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.03 and a current ratio of 1.10. Sprint Corp has a 1-year low of $5.42 and a 1-year high of $9.65.
In other Sprint news, major shareholder Group Corp Softbank acquired 6,484,367 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were acquired at an average price of $5.92 per share, with a total value of $38,387,452.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tarek Robbiati sold 363,529 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the transaction, the chief financial officer now directly owns 1,901,974 shares in the company, valued at approximately $11,411,844. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 38,863,775 shares of company stock valued at $227,562,120 and have sold 913,236 shares valued at $5,377,413. Insiders own 0.18% of the company’s stock.
S has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Sprint from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Tuesday, October 10th. BTIG Research increased their price objective on Sprint from $3.85 to $4.00 and gave the stock a “sell” rating in a research report on Wednesday, October 18th. KeyCorp cut Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a research report on Monday, November 6th. Deutsche Bank decreased their price target on Sprint from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Finally, TheStreet cut Sprint from a “c-” rating to a “d+” rating in a research report on Tuesday, December 19th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.84.
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Sprint 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.
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