Sprint Nextel: Big Funds Buying Shares in Third Quarter
Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently increased stock shares of Sprint Nextel Corp. (NYSE:S).
SEC data indicate that these institutions significantly increased their stock shares of Sprint Nextel Corp. in Q3 2011:
- DISCOVERY CAPITAL MANAGEMENT, LLC / CT: On 06/30/2011, held 0 shares. On 09/30/2011, held 56,163,600 shares, worth $170,737,344.
- MORGAN STANLEY: On 06/30/2011, held 0 shares. On 09/30/2011, held 12,609,114 shares, worth $38,331,707.
- PENNANT CAPITAL MANAGEMENT LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 10,200,000 shares, worth $31,008,000.
- KINGDON CAPITAL MANAGEMENT LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 6,000,000 shares, worth $18,240,000.
- CROW POINT PARTNERS, LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 5,349,724 shares, worth $16,263,161.
About the company: Sprint Nextel Corporation offers a range of wireless and wireline communications services to consumer, business, and government customers. The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities, and a global Tier 1 Internet backbone.
Competitors to Watch: AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), MetroPCS Communications, Inc. (NYSE:PCS), Leap Wireless Intl., Inc. (NASDAQ:LEAP), NTELOS Holdings Corp. (NASDAQ:NTLS), United States Cellular Corp. (NYSE:USM), Telephone & Data Systems, Inc. (NYSE:TDS), and CenturyLink, Inc. (NYSE:CTL).
(Note: Data regarding Sprint Nextel Corp.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)
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