Softbank Group Corp Insider Buy
The insider of Sprint Corp, Softbank Group Corp, made a purchase of 18.65 million company shares on September 30, 2015, worth around $74.59 million (at $4.0 a share). The possibility that this acquisition remains unseen are very low owing to the substantial amount of cash involved. Presently, Softbank Group Corp owns -2,147,483,648 shares which make up about 10%+ of the company’s market capitalization.
Sprint Corp Sentiment and Fundamentals
Softbank Group Corp’s trade could mean only one: that it’s an optimist when it comes to the Company’s potential and its stock price. Twenty nine security specialist analysts following the developments of Sprint Corp stated, that the -listed company’s earnings for each share is expected at $-0.31. This gives the company a P/E ratio of NaN. They forecast a Year-Over-Year earnings for each share growth rate of more than 18.15%.
Sprint Corp is also in a down trend. Over the last 50 days the stock price has dived 1.86%. Despite Softbank Group Corp’s acquisition, we have no choice but to rate the stock NEUTRAL as our trend-following model which is displayed below, is unfavourable.
As Scott Bessent, one of the greats, shared, that the best money is made through a combination of fundamental & technical analysis.” This is definitely not the case with this stock.
Institutional Ownership
Review of SEC 13F filings reveal that 259 hedge funds and institutional investors own shares in Sprint Corp. The institutional ownership of the company’s stock in the last quarter is very high, at 15.11% of the shares outstanding. Its up 8.26% from Q1 2015. These professional stock owners increased the total shares they own by 45.76 million to 599.46 million this quarter. A total of 22 funds opened new positions in Sprint Corp and 76 increased their holdings. There were 46 funds that closed their positions and 95 that reduced them.
Two [HF3951] have this company in their Top 10. Some of these are: Mig Capital Llc, Litespeed Management L.L.C..
T Boone Pickens’s Boston Private Wealth Llc is the most positive institutional investor on Sprint Corp, with ownership of 263,000 shares as of Q2 2015 for 0.04% of the fund’s portfolio. First Republic Investment Management Inc. is another positive institutional manager having 16,838 shares of the company or less than 0.01% of their stocks portfolio. The North Carolina-based fund Jolley Asset Management Llc have less than 0.01% of their stock portfolio invested in the stock for 425 shares. Further, The Kansas-based fund Paragon Capital Management Llc disclosed it had acquired a stake worth 0.02% of the fund’s stock portfolio in the company. The New York-based fund Pinnacle Associates Ltd was also a notable believer in the company’s stock, with ownership of 11,698 shares. Sprint Corp is less than 0.01% of the fund’s stock portfolio.
Sprint Corp NYSE:S Company Profile
Sprint Corporation offers a range of wireless and wireline communications services to consumers, businesses and government users. The Company develops, engineers and deploys technologies, including the first wireless fourth generation (4G) service from a national carrier in the United States; offering mobile data services, prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities, and a global Tier 1 Internet Service. On July 10, 2013, the Company, SoftBank Corp. and Sprint Nextel Corporation (Sprint Nextel) completed the merger. In the Merger, Sprint Corporation was merged into Sprint Nextel, New Sprint became the parent company of Sprint Nextel, with Sprint Nextel becoming its direct wholly owned subsidiary, and Sprint Nextel changed its name to Sprint Communications, Inc.
Company Website: Sprint Corp
Currently its market cap is: $15.24 billion and it has 4.07 billion shares outstanding. Sprint Corp has 31000 employees. Currently it has 18.06% shareholders and the institutional ownership stands at 18.06%. Sprint Corp was formed in Delaware on 2012-10-05. The stock closed at $3.84 yesterday and it had average 2 days volume of 6329853 shares. It is up from the 30 days average shares volume of 4778566. Sprint Corp has a 52w low of $3.10 and a 52weeks high of $6.45. The stock price is below the 200 days Simple moving average. Sprint Corp last issued its quarterly earnings report on 08/04/2015. The company reported -0.01 EPS for the quarter, above the consensus estimate of -0.08 by 0.07. The company had a revenue of 8.03 billion for 6/30/2015 and 8.28 billion for 3/31/2015. Therefore, the revenue was -255,000,000 down.
Softbank Group Corp is also 10 percent owner of Utstarcom Holdings Corp., Intelligroup Inc, Morningstar, Inc.
* These securities are owned indirectly by SoftBank Group Corp. (“Softbank”) through Galaxy Investment Holdings - Inc. (“Galaxy”) - which is a wholly-ownedsubsidiary of SoftBank. As a result - SoftBank may be deemed to beneficially own such shares held directly by Galaxy.
* Such figure reflects 206 - 259 - 799 - 212 - 491 - 499 and 218 - 723 - 199 shares of Sprint Common Stock (the “Galaxy Shares”) as of September 28 - September 29 and September 30 - 2015 - respectively - that are owned indirectly by SoftBank through Galaxy and 3 - 076 - 525 - 523 shares of Sprint Common Stock (the “Starburst I Shares”) as of each such date that are owned indirectly by SoftBank through Starburst I - Inc. (“Starburst I”) - which is a U.S. wholly owned subsidiary of SoftBank. As a result of such ownership - SoftBank may be deemed to beneficially own the Galaxy Shares and the Starburst I Shares. Starburst I expressly disclaims beneficial ownership with respect to the Galaxy Shares and Galaxy expressly disclaims beneficial ownership with respect to the Starburst I Shares.
