Zurcher Kantonalbank Zurich Cantonalbank Has $1.35 Million Holdings in Sprint Corp (S)
Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sprint Corp (NYSE:S) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 229,692 shares of the cell phone carrier’s stock after buying an additional 13,719 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sprint were worth $1,353,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in shares of Sprint by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock worth $27,973,000 after purchasing an additional 54,865 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Sprint by 3.9% in the third quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock worth $7,423,000 after purchasing an additional 35,910 shares during the period. Stifel Financial Corp increased its stake in shares of Sprint by 39.4% in the third quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock worth $1,797,000 after purchasing an additional 65,224 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Sprint by 21.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,399,854 shares of the cell phone carrier’s stock worth $10,891,000 after purchasing an additional 251,351 shares during the period. Finally, FMR LLC increased its stake in shares of Sprint by 3.1% in the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock worth $31,492,000 after purchasing an additional 115,192 shares during the period. 13.77% of the stock is owned by institutional investors.
A number of research firms have recently commented on S. Citigroup reiterated a “neutral” rating and issued a $6.50 price objective (down from $7.50) on shares of Sprint in a research note on Thursday, February 8th. TheStreet upgraded Sprint from a “d+” rating to a “c” rating in a research note on Friday, February 2nd. Robert W. Baird restated a “hold” rating and set a $6.00 price target on shares of Sprint in a research note on Friday, February 2nd. Bank of America boosted their price target on Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a research note on Monday, February 5th. Finally, Cowen restated a “hold” rating on shares of Sprint in a research note on Monday, February 5th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Sprint has a consensus rating of “Hold” and a consensus target price of $6.11.
Sprint (NYSE:S) last released its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same period in the prior year, the company posted ($0.46) EPS. The company’s revenue was down 3.6% compared to the same quarter last year. research analysts anticipate that Sprint Corp will post 1.76 EPS for the current year.
In other Sprint news, major shareholder Group Corp Softbank bought 6,239,538 shares of Sprint stock in a transaction dated Thursday, January 11th. The shares were acquired at an average cost of $5.70 per share, with a total value of $35,565,366.60. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jorge Enrique Gracia sold 112,959 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $6.18, for a total value of $698,086.62. Following the completion of the transaction, the insider now directly owns 858,383 shares in the company, valued at $5,304,806.94. The disclosure for this sale can be found here. Over the last quarter, insiders bought 55,763,951 shares of company stock worth $321,193,612 and sold 549,707 shares worth $3,196,239. Corporate insiders own 0.18% of the company’s stock.
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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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