Sprint Corp (S) Short Interest Update

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Sprint Corp (NYSE:S) saw a large increase in short interest in March. As of March 29th, there was short interest totalling 99,691,145 shares, an increase of 7.6% from the March 15th total of 92,613,324 shares. Based on an average daily volume of 15,027,045 shares, the short-interest ratio is presently 6.6 days. Approximately 16.7% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in S. Private Capital Group LLC increased its position in shares of Sprint by 51.7% during the 4th quarter. Private Capital Group LLC now owns 6,002 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 2,045 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Sprint during the 4th quarter valued at about $36,000. Bristlecone Advisors LLC purchased a new stake in shares of Sprint during the 4th quarter valued at about $58,000. Econ Financial Services Corp purchased a new stake in shares of Sprint during the 4th quarter valued at about $59,000. Finally, NuWave Investment Management LLC increased its position in shares of Sprint by 1,200.7% during the 1st quarter. NuWave Investment Management LLC now owns 10,991 shares of the cell phone carrier’s stock valued at $62,000 after purchasing an additional 10,146 shares during the last quarter. 13.46% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on S. ValuEngine cut shares of Sprint from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. William Blair restated an “underperform” rating on shares of Sprint in a research note on Monday, February 11th. Finally, Cowen restated a “hold” rating and set a $4.50 target price on shares of Sprint in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.83.

S opened at $5.88 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 84.00, a P/E/G ratio of 4.55 and a beta of 0.49. Sprint has a 52-week low of $5.04 and a 52-week high of $6.62.

Sprint (NYSE:S) last posted its earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Sprint had a net margin of 0.90% and a return on equity of 1.08%. The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the prior year, the company posted $1.76 EPS. As a group, analysts expect that Sprint will post 0.05 EPS for the current year.

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About Sprint

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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