Telefonaktiebolaget LM Ericsson (ERIC) Shares Sold by Trexquant Investment LP

Trexquant Investment LP lessened its position in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 16.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 102,406 shares of the communications equipment provider’s stock after selling 19,508 shares during the quarter. Trexquant Investment LP’s holdings in Telefonaktiebolaget LM Ericsson were worth $901,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson by 122.5% in the 2nd quarter. FMR LLC now owns 4,650,110 shares of the communications equipment provider’s stock valued at $35,666,000 after buying an additional 2,560,110 shares during the period. Renaissance Technologies LLC purchased a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth about $33,931,000. JPMorgan Chase & Co. increased its holdings in Telefonaktiebolaget LM Ericsson by 324.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock worth $26,617,000 after purchasing an additional 2,312,625 shares during the period. Northern Trust Corp increased its holdings in Telefonaktiebolaget LM Ericsson by 2.3% during the 2nd quarter. Northern Trust Corp now owns 2,807,265 shares of the communications equipment provider’s stock worth $21,531,000 after purchasing an additional 62,247 shares during the period. Finally, Bank of America Corp DE increased its holdings in Telefonaktiebolaget LM Ericsson by 173.9% during the 2nd quarter. Bank of America Corp DE now owns 1,203,510 shares of the communications equipment provider’s stock worth $9,231,000 after purchasing an additional 764,120 shares during the period. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Several brokerages have weighed in on ERIC. ValuEngine downgraded Telefonaktiebolaget LM Ericsson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 21st. BidaskClub downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Argus upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a report on Friday, October 19th. BMO Capital Markets restated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, October 18th. Finally, Canaccord Genuity upped their price target on Telefonaktiebolaget LM Ericsson from $8.50 to $9.00 and gave the stock a “hold” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.49.

Shares of NASDAQ ERIC opened at $8.39 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $6.00 and a 1-year high of $9.45. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of -17.85 and a beta of 0.79. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Thursday, October 18th. The communications equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. Telefonaktiebolaget LM Ericsson had a negative return on equity of 0.43% and a negative net margin of 9.26%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $5.63 billion. On average, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.28 earnings per share for the current fiscal year.

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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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