Ontario Teachers Pension Plan Board buys $145.7 Million stake in Sprint Corp (S)

Sprint Corp (S) : Ontario Teachers Pension Plan Board scooped up 1,422,397 additional shares in Sprint Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 42,343,456 shares of Sprint Corp which is valued at $145.7 Million.Sprint Corp makes up approximately 1.57% of Ontario Teachers Pension Plan Board’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management sold out all of its stake in S during the most recent quarter. The investment firm sold 12,951 shares of S which is valued $44,551. Omers Administration Corp added S to its portfolio by purchasing 58,900 company shares during the most recent quarter which is valued at $202,616.Shell Asset Management Co reduced its stake in S by selling 13,597 shares or 27.55% in the most recent quarter. The Hedge Fund company now holds 35,763 shares of S which is valued at $123,025.Manufacturers Life Insurance Company The boosted its stake in S in the latest quarter, The investment management firm added 740 additional shares and now holds a total of 118,376 shares of Sprint Corp which is valued at $407,213.

Sprint Corp opened for trading at $3.54 and hit $3.56 on the upside on Wednesday, eventually ending the session at $3.53, with a gain of 0.57% or 0.02 points. The heightened volatility saw the trading volume jump to 1,16,63,312 shares. Company has a market cap of $14,030 M.

On the company’s financial health, Sprint Corp reported $-0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.13. The company had revenue of $8071.00 million for the quarter, compared to analysts expectations of $7988.99 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on Sprint Corp. Sprint Corp was Downgraded by Pacific Crest to ” Underweight” on Apr 13, 2016. Sprint Corp was Initiated by Macquarie to “Outperform” on Apr 5, 2016. Deutsche Bank Initiated Sprint Corp on Feb 24, 2016 to “Hold”, Price Target of the shares are set at $3.

Sprint Corporation is a holding company. The Company along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks an all-digital global wireline network and a Tier 1 Internet backbone. It offers wireless and wireline services to subscribers in all 50 states Puerto Rico and the United States Virgin Islands under the Sprint corporate brand which includes its retail brands of Sprint Boost Mobile Virgin Mobile and Assurance Wireless. It markets its postpaid services under the Sprint brand. It markets its prepaid services under the Sprint Boost Mobile Virgin Mobile and Assurance Wireless brands. In addition it sells accessories such as carrying cases hands-free devices and and it sells devices and accessories to agents and other third-party distributors for resale.

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