Eventide Asset Management LLC Raises Position in Telefonaktiebolaget LM Ericsson (ERIC)

Eventide Asset Management LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,000 shares of the communications equipment provider’s stock after buying an additional 20,000 shares during the quarter. Eventide Asset Management LLC’s holdings in Telefonaktiebolaget LM Ericsson were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ERIC. Bank of Montreal Can raised its holdings in Telefonaktiebolaget LM Ericsson by 18.4% in the 4th quarter. Bank of Montreal Can now owns 102,038 shares of the communications equipment provider’s stock valued at $682,000 after buying an additional 15,847 shares during the last quarter. Keybank National Association OH bought a new position in Telefonaktiebolaget LM Ericsson in the 4th quarter valued at approximately $100,000. The Manufacturers Life Insurance Company increased its position in Telefonaktiebolaget LM Ericsson by 934.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 418,147 shares of the communications equipment provider’s stock valued at $2,794,000 after purchasing an additional 377,722 shares during the period. Virtu Financial LLC increased its position in Telefonaktiebolaget LM Ericsson by 133.1% during the 4th quarter. Virtu Financial LLC now owns 86,328 shares of the communications equipment provider’s stock valued at $577,000 after purchasing an additional 49,291 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Telefonaktiebolaget LM Ericsson during the 4th quarter valued at approximately $5,601,000. Institutional investors and hedge funds own 8.72% of the company’s stock.

A number of analysts have weighed in on the stock. ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 13th. BMO Capital Markets reissued a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, April 20th. Berenberg Bank assumed coverage on shares of Telefonaktiebolaget LM Ericsson in a research report on Wednesday, April 11th. They set a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research report on Tuesday, March 6th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Telefonaktiebolaget LM Ericsson presently has an average rating of “Hold” and an average price target of $5.91.

Shares of ERIC stock opened at $7.86 on Wednesday. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.52 and a 52 week high of $8.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.46.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, April 20th. The communications equipment provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $43.40 billion during the quarter, compared to the consensus estimate of $43.59 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 12.75% and a negative return on equity of 4.58%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the firm posted ($2.42) EPS. equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.17 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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