Oppenheimer & Co. Inc. reduced its stake in Sprint Corporation (NYSE:S) by 47.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,841 shares of the cell phone carrier’s stock after selling 13,658 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sprint were worth $115,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in S. Aperio Group LLC raised its position in shares of Sprint by 12.9% in the 2nd quarter. Aperio Group LLC now owns 232,986 shares of the cell phone carrier’s stock valued at $1,913,000 after purchasing an additional 26,570 shares during the last quarter. Russell Investments Group Ltd. raised its position in Sprint by 52.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,217,391 shares of the cell phone carrier’s stock worth $9,996,000 after buying an additional 421,287 shares during the last quarter. Strs Ohio raised its position in Sprint by 3,034.3% during the 2nd quarter. Strs Ohio now owns 348,721 shares of the cell phone carrier’s stock worth $2,862,000 after buying an additional 337,595 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Sprint during the 2nd quarter worth approximately $125,000. Finally, Stratos Wealth Partners LTD. raised its position in Sprint by 17.0% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock worth $125,000 after buying an additional 2,210 shares during the last quarter. 13.74% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Group Corp Softbank purchased 1,045,040 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average price of $5.99 per share, with a total value of $6,259,789.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jorge Enrique Gracia sold 112,959 shares of Sprint stock in a transaction on Monday, November 27th. The shares were sold at an average price of $6.18, for a total transaction of $698,086.62. Following the completion of the sale, the insider now directly owns 858,383 shares in the company, valued at approximately $5,304,806.94. The disclosure for this sale can be found here. Insiders have bought a total of 18,651,252 shares of company stock worth $112,608,289 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

A number of equities analysts have issued reports on S shares. Oppenheimer reissued a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Tuesday, October 3rd. KeyCorp lowered shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price target for the company. in a research report on Monday, November 6th. UBS reissued a “buy” rating and set a $7.50 price target (down from $9.00) on shares of Sprint in a research report on Monday, November 6th. Finally, Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price target for the company. in a research report on Thursday, November 2nd. Eight research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $7.19.

Shares of Sprint Corporation (NYSE:S) traded down $0.21 during midday trading on Wednesday, hitting $5.74. 15,245,301 shares of the stock were exchanged, compared to its average volume of 15,118,537. Sprint Corporation has a twelve month low of $5.62 and a twelve month high of $9.65. 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 (NYSE:S) last issued its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. analysts forecast that Sprint Corporation will post -0.03 EPS for the current fiscal year.

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About Sprint

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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Institutional Ownership by Quarter for Sprint (NYSE:S)

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