Public Employees Retirement Association of Colorado Has $731,000 Stake in Sprint Co. (S)

Public Employees Retirement Association of Colorado trimmed its holdings in Sprint Co. (NYSE:S) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,808 shares of the cell phone carrier’s stock after selling 13,835 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Sprint were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in Sprint by 872.7% during the fourth quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock valued at $101,000 after purchasing an additional 15,692 shares in the last quarter. BancorpSouth Bank acquired a new position in Sprint during the fourth quarter valued at approximately $104,000. Delpha Capital Management LLC acquired a new position in Sprint during the fourth quarter valued at approximately $131,000. Two Sigma Securities LLC acquired a new position in Sprint during the fourth quarter valued at approximately $157,000. Finally, Banco de Sabadell S.A acquired a new position in Sprint during the fourth quarter valued at approximately $176,000. Institutional investors own 13.70% of the company’s stock.

Sprint opened at $5.11 on Friday, according to Marketbeat. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 126.75 and a beta of 0.66. Sprint Co. has a fifty-two week low of $4.81 and a fifty-two week high of $9.02. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Sprint (NYSE:S) last posted its earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Sprint had a net margin of 22.80% and a return on equity of 0.73%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. sell-side analysts predict that Sprint Co. will post -0.04 earnings per share for the current year.

In related news, insider John Saw sold 88,319 shares of the business’s stock in a transaction on Friday, April 27th. The shares were sold at an average price of $6.50, for a total value of $574,073.50. Following the sale, the insider now owns 1,149,057 shares of the company’s stock, valued at $7,468,870.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Several research analysts have commented on S shares. Cowen restated a “hold” rating on shares of Sprint in a research report on Monday, February 5th. Barclays restated a “hold” rating and set a $5.00 price objective on shares of Sprint in a research report on Friday, January 19th. Guggenheim started coverage on shares of Sprint in a research report on Tuesday, March 13th. They set a “sell” rating and a $4.50 price objective for the company. Macquarie downgraded shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research report on Tuesday, January 23rd. Finally, ValuEngine downgraded shares of Sprint from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 4th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.91.

About Sprint

Sprint Corporation, through 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 U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.

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Institutional Ownership by Quarter for Sprint (NYSE:S)

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