Fox Run Management L.L.C. Purchases Shares of 94,255 Ericsson $ERIC

Key Points

• Fox Run Management L.L.C. acquired 94,255 shares of Ericsson worth approximately $731,000 in the first quarter, according to a recent SEC filing.
• Other institutional investors significantly increased their stakes in Ericsson, with notable increases from Wells Fargo and Envestnet Asset Management.
• Ericsson's stock recently opened at $7.71, marking a one-year low of $6.64 and a high of $8.99, and reported earnings of $0.14 per share, exceeding analyst expectations.

Fox Run Management L.L.C. acquired a new position in Ericsson (NASDAQ:ERIC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,255 shares of the communications equipment provider's stock, valued at approximately $731,000.

Several other large investors have also recently bought and sold shares of ERIC. Millennium Management LLC raised its position in shares of Ericsson by 234.6% during the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider's stock worth $54,364,000 after buying an additional 4,729,207 shares in the last quarter. DigitalBridge Group Inc. increased its stake in shares of Ericsson by 28.8% during the fourth quarter. DigitalBridge Group Inc. now owns 6,382,140 shares of the communications equipment provider's stock valued at $51,440,000 after acquiring an additional 1,427,386 shares during the period. ABC Arbitrage SA bought a new stake in Ericsson during the first quarter worth approximately $24,146,000. Two Sigma Advisers LP lifted its position in Ericsson by 21.2% in the fourth quarter. Two Sigma Advisers LP now owns 2,463,200 shares of the communications equipment provider's stock worth $19,853,000 after purchasing an additional 431,300 shares during the period. Finally, Boothbay Fund Management LLC boosted its stake in Ericsson by 20.5% during the 4th quarter. Boothbay Fund Management LLC now owns 2,257,459 shares of the communications equipment provider's stock valued at $18,195,000 after purchasing an additional 383,463 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company's stock.

Ericsson Price Performance

Shares of ERIC stock traded down $0.0350 during mid-day trading on Thursday, hitting $7.6850. 5,583,482 shares of the stock traded hands, compared to its average volume of 20,858,264. Ericsson has a twelve month low of $6.64 and a twelve month high of $8.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 1.09. The company's 50-day simple moving average is $7.88 and its 200-day simple moving average is $8.02. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 12.31 and a beta of 0.85.

Ericsson (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%.The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.34) earnings per share. As a group, equities research analysts expect that Ericsson will post 0.48 earnings per share for the current year.

Ericsson Company 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.