Toronto Dominion Bank Sells 21,234 Shares of Sprint Corp (NYSE:S)

Toronto Dominion Bank reduced its stake in Sprint Corp (NYSE:S) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,608 shares of the cell phone carrier’s stock after selling 21,234 shares during the period. Toronto Dominion Bank’s holdings in Sprint were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Comerica Bank raised its position in Sprint by 16.4% during the first quarter. Comerica Bank now owns 40,425 shares of the cell phone carrier’s stock valued at $240,000 after purchasing an additional 5,682 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Sprint by 5.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 75,461 shares of the cell phone carrier’s stock worth $426,000 after buying an additional 3,800 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Sprint by 4.9% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 51,975 shares of the cell phone carrier’s stock worth $293,000 after buying an additional 2,407 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Sprint by 15.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 249,373 shares of the cell phone carrier’s stock worth $1,409,000 after buying an additional 33,573 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Sprint by 73.1% during the first quarter. Great West Life Assurance Co. Can now owns 709,779 shares of the cell phone carrier’s stock worth $3,999,000 after buying an additional 299,847 shares in the last quarter. Institutional investors and hedge funds own 14.12% of the company’s stock.

A number of analysts recently weighed in on S shares. New Street Research downgraded Sprint from a “buy” rating to a “neutral” rating in a report on Thursday, May 23rd. UBS Group raised shares of Sprint from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.50 to $10.00 in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.51.

In related news, insider Jorge Enrique Gracia sold 194,480 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $6.58, for a total transaction of $1,279,678.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO John Saw sold 189,531 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $6.83, for a total transaction of $1,294,496.73. The disclosure for this sale can be found here. Insiders have sold a total of 386,085 shares of company stock valued at $2,588,693 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Shares of S stock traded up $0.01 during trading hours on Thursday, hitting $6.74. 161,600 shares of the company were exchanged, compared to its average volume of 6,775,424. The firm has a fifty day simple moving average of $6.84 and a 200 day simple moving average of $6.56. The stock has a market capitalization of $27.69 billion, a price-to-earnings ratio of 674.50 and a beta of 0.23. Sprint Corp has a 52-week low of $5.44 and a 52-week high of $8.06. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.57.

Sprint (NYSE:S) last announced its quarterly earnings results on Friday, August 2nd. The cell phone carrier reported ($0.03) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). Sprint had a negative net margin of 6.63% and a negative return on equity of 0.84%. The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.02 billion. During the same period last year, the firm earned $0.04 EPS. Sell-side analysts anticipate that Sprint Corp will post -0.07 EPS for the current year.

Sprint 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.

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Institutional Ownership by Quarter for Sprint (NYSE:S)

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