Park Avenue Securities LLC Buys 13,218 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Park Avenue Securities LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 73.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,121 shares of the communications equipment provider’s stock after acquiring an additional 13,218 shares during the quarter. Park Avenue Securities LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $236,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cavalry Management Group LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.5% in the second quarter. Cavalry Management Group LLC now owns 114,383 shares of the communications equipment provider’s stock valued at $706,000 after purchasing an additional 27,426 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth about $81,000. Millennium Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $2,896,000. DigitalBridge Group Inc. increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth $592,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.4 %

ERIC stock opened at $7.54 on Tuesday. The company’s 50-day simple moving average is $7.32 and its 200 day simple moving average is $6.38. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $7.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market capitalization of $25.13 billion, a PE ratio of -7.62 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.29 billion. As a group, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ERIC. StockNews.com lowered Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Profile

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.