Short Interest in Sprint Corporation (S) Declines By 8.8%

Sprint Corporation (NYSE:S) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 104,991,406 shares, a decrease of 8.8% from the June 15th total of 115,059,177 shares. Approximately 15.6% of the shares of the company are short sold. Based on an average trading volume of 18,065,828 shares, the days-to-cover ratio is presently 5.8 days.

In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ronald Blue & Co. LLC raised its position in Sprint Corporation by 1.1% in the first quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock worth $185,000 after buying an additional 222 shares during the period. Pacer Advisors Inc. raised its position in Sprint Corporation by 1.9% in the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after buying an additional 483 shares during the period. World Asset Management Inc raised its position in Sprint Corporation by 2.9% in the first quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock worth $214,000 after buying an additional 693 shares during the period. Mackenzie Financial Corp raised its position in Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock worth $136,000 after buying an additional 854 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in Sprint Corporation by 5.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 20,647 shares of the cell phone carrier’s stock worth $168,000 after buying an additional 981 shares during the period. Institutional investors own 14.32% of the company’s stock.

Sprint Corporation (NYSE S) opened at 8.39 on Tuesday. The stock’s market capitalization is $33.48 billion. The firm’s 50-day moving average is $8.20 and its 200 day moving average is $8.52. Sprint Corporation has a 12-month low of $4.42 and a 12-month high of $9.65.

Sprint Corporation (NYSE:S) last released its quarterly earnings data on Wednesday, May 3rd. The cell phone carrier reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.03. Sprint Corporation had a negative return on equity of 5.90% and a negative net margin of 3.62%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Sprint Corporation’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Sprint Corporation will post ($0.83) EPS for the current year.

S has been the topic of a number of research reports. BidaskClub lowered shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Vetr lowered shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $9.34 price objective on the stock. in a research note on Monday, March 27th. TheStreet upgraded shares of Sprint Corporation from a “d+” rating to a “c+” rating in a research note on Wednesday, May 3rd. ValuEngine upgraded shares of Sprint Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Sprint Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. Sprint Corporation has a consensus rating of “Hold” and an average price target of $9.31.

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Sprint Corporation Company Profile

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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