Mig Capital buys $44,027,137 stake in Sprint Corp (S)

Sprint Corp (S) : Mig Capital scooped up 556,615 additional shares in Sprint Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 7,229,415 shares of Sprint Corp which is valued at $44,027,137.Sprint Corp makes up approximately 8.51% of Mig Capital’s portfolio.

Other Hedge Funds, Including , Litespeed Management L.l.c. sold out all of its stake in S during the most recent quarter. The investment firm sold 6,314,175 shares of S which is valued $38,453,326.Blackrock Advisors reduced its stake in S by selling 38,423 shares or 3.67% in the most recent quarter. The Hedge Fund company now holds 1,007,633 shares of S which is valued at $6,136,485. Sprint Corp makes up approx 0.01% of Blackrock Advisors’s portfolio.

Sprint Corp opened for trading at $6.18 and hit $6.25 on the upside on Thursday, eventually ending the session at $6.2, with a gain of 0.32% or 0.02 points. The heightened volatility saw the trading volume jump to 1,33,96,932 shares. Company has a market cap of $24,666 M.

On the company’s financial health, Sprint Corp reported $-0.08 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $-0.08. The company had revenue of $8012.00 million for the quarter, compared to analysts expectations of $7987.04 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Sprint Corp. Sprint Corp was Downgraded by Buckingham Research to ” Underperform” on Aug 25, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .Sprint Corp was Upgraded by Pacific Crest to ” Sector Weight” on Jul 26, 2016.

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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