Cumberland Advisors Inc. acquired a new stake in Sprint Corp (NYSE:S) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 133,000 shares of the cell phone carrier’s stock, valued at approximately $774,000.
A number of other large investors have also added to or reduced their stakes in the business. Federated Investors Inc. PA raised its stake in Sprint by 132.6% in the third quarter. Federated Investors Inc. PA now owns 40,740 shares of the cell phone carrier’s stock valued at $266,000 after buying an additional 23,224 shares during the period. Morgan Stanley grew its position in shares of Sprint by 145.5% in the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock valued at $56,275,000 after purchasing an additional 5,100,266 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Sprint by 343.3% in the third quarter. Rehmann Capital Advisory Group now owns 11,556 shares of the cell phone carrier’s stock valued at $1,767,000 after purchasing an additional 8,949 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Sprint by 2.9% in the third quarter. TIAA CREF Investment Management LLC now owns 4,585,969 shares of the cell phone carrier’s stock valued at $29,992,000 after purchasing an additional 127,824 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. acquired a new position in shares of Sprint in the third quarter valued at approximately $249,000. Hedge funds and other institutional investors own 12.95% of the company’s stock.
Get Sprint alerts: Several research firms have recently commented on S. ValuEngine raised Sprint from a “hold” rating to a “buy” rating in a research report on Tuesday, December 18th. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Tuesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sprint presently has an average rating of “Hold” and a consensus price target of $5.70.
In related news, Director Ronald D. Fisher sold 327,525 shares of the that occurred on Monday, November 19th. The stock was sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the sale, the director now owns 2,419,275 shares of the company’s stock, valued at $14,999,505. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . Also, insider Jorge Enrique Gracia sold 129,652 shares of the that occurred on Wednesday, November 7th. The stock was sold at an average price of $6.38, for a total value of $827,179.76. The disclosure for this sale can be found here . Corporate insiders own 0.39% of the company’s stock.
Shares of Sprint stock traded down $0.03 on Tuesday, hitting $6.29. The stock had a trading volume of 6,943,410 shares, compared to its average volume of 10,257,900. Sprint Corp has a twelve month low of $4.81 and a twelve month high of $6.62. 1.12, a quick ratio of 1.05 1.24. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 89.86, a PEG ratio of 5.34 and a beta of 0.64.
Sprint (NYSE:S) last posted its earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Sprint had a return on equity of 1.36% and a net margin of 23.12%. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts predict that Sprint Corp will post 0.06 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Cumberland Advisors Inc. Acquires New Position in Sprint Corp (S)” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://theolympiareport.com/2019/01/08/cumberland-advisors-inc-acquires-new-position-in-sprint-corp-s.html. About Sprint
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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