Nissay Asset Management Corp Japan ADV Buys 3,800 Shares of Sprint Corp (NYSE:S)

Nissay Asset Management Corp Japan ADV increased its position in shares of Sprint Corp (NYSE:S) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,461 shares of the cell phone carrier’s stock after buying an additional 3,800 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Sprint were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Sprint during the 4th quarter worth about $80,633,000. Hsbc Holdings PLC boosted its stake in Sprint by 821.9% in the 4th quarter. Hsbc Holdings PLC now owns 4,946,122 shares of the cell phone carrier’s stock worth $28,787,000 after buying an additional 4,409,623 shares during the last quarter. Alpine Associates Management Inc. boosted its stake in Sprint by 50.7% in the 4th quarter. Alpine Associates Management Inc. now owns 10,860,532 shares of the cell phone carrier’s stock worth $63,208,000 after buying an additional 3,654,532 shares during the last quarter. Millennium Management LLC boosted its stake in Sprint by 65.2% in the 4th quarter. Millennium Management LLC now owns 7,504,689 shares of the cell phone carrier’s stock worth $43,677,000 after buying an additional 2,962,560 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Sprint in the 4th quarter worth about $13,386,000. Hedge funds and other institutional investors own 12.97% of the company’s stock.

S stock traded up $0.20 during trading on Friday, reaching $7.01. 32,908,676 shares of the company’s stock were exchanged, compared to its average volume of 18,651,496. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 1.06. Sprint Corp has a 1-year low of $5.28 and a 1-year high of $7.90. The firm has a market capitalization of $27.72 billion, a PE ratio of 701.00 and a beta of 0.17.

Sprint (NYSE:S) last announced its quarterly earnings results on Tuesday, May 7th. The cell phone carrier reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.19 billion. Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Equities research analysts predict that Sprint Corp will post -0.13 earnings per share for the current fiscal year.

In related news, insider John Saw sold 7,419 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $7.05, for a total transaction of $52,303.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 92,729 shares of company stock valued at $583,389. Insiders own 0.39% of the company’s stock.

Several equities analysts recently commented on S shares. ValuEngine lowered Sprint from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Raymond James downgraded Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 price objective on the stock. in a report on Monday, April 29th. Macquarie reiterated a “hold” rating and issued a $5.50 price target on shares of Sprint in a report on Sunday, May 12th. Finally, New Street Research downgraded Sprint from a “buy” rating to a “neutral” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $5.71.

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Sprint Company Profile

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.

Further Reading: The Role of a Fiduciary and Individual Investors

Institutional Ownership by Quarter for Sprint (NYSE:S)

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