Jane Street Group LLC Sells 2,046,315 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Jane Street Group LLC cut its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 74.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 696,774 shares of the communications equipment provider’s stock after selling 2,046,315 shares during the quarter. Jane Street Group LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $5,282,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after purchasing an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after buying an additional 785,261 shares during the period. Hsbc Holdings PLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $17,940,000. FMR LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after acquiring an additional 463,415 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after acquiring an additional 2,020,200 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ERIC. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.8 %

Shares of ERIC stock opened at $8.23 on Tuesday. The stock has a market cap of $27.43 billion, a P/E ratio of -274.33 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $8.20 and a 200 day simple moving average of $7.30.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. On average, research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.