Jane Street Group LLC Increases Holdings in Ericsson $ERIC

Key Points

• Jane Street Group LLC significantly increased its position in Ericsson by 113.0%, acquiring 1,266,788 shares to own a total of 2,387,985 shares worth approximately $18.5 million.
• Ericsson reported earnings of $0.14 per share for the last quarter, exceeding analysts' expectations, although the quarterly revenue was down 6.2% year-over-year.
• Analysts have adjusted their ratings for Ericsson, with a recent downgrade from "strong-buy" to "buy," while the stock has a consensus rating of "Hold" and an average target price of $9.80.

Jane Street Group LLC raised its holdings in Ericsson (NASDAQ:ERIC - Free Report) by 113.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,387,985 shares of the communications equipment provider's stock after buying an additional 1,266,788 shares during the quarter. Jane Street Group LLC owned about 0.07% of Ericsson worth $18,531,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of Ericsson by 7.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider's stock worth $196,000 after buying an additional 1,713 shares during the last quarter. Northern Trust Corp grew its position in shares of Ericsson by 41.4% in the 4th quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider's stock worth $14,277,000 after buying an additional 519,029 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Ericsson by 157.8% in the 4th quarter. Cetera Investment Advisers now owns 93,134 shares of the communications equipment provider's stock worth $751,000 after buying an additional 57,003 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Ericsson in the 4th quarter worth approximately $105,000. Finally, SG Americas Securities LLC grew its position in shares of Ericsson by 0.9% in the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider's stock worth $1,227,000 after buying an additional 1,339 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Ericsson from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. BNP Paribas restated an "underperform" rating on shares of Ericsson in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $9.80.

Ericsson Stock Up 1.1%

Shares of ERIC traded up $0.09 on Thursday, reaching $7.94. The stock had a trading volume of 12,245,128 shares, compared to its average volume of 7,463,867. The firm has a market capitalization of $26.59 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 12.56 and a beta of 0.87. 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 has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $8.04. Ericsson has a 12-month low of $6.64 and a 12-month high of $8.99.

Ericsson (NASDAQ:ERIC - Get Free Report) last released its earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%.The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted ($3.34) EPS. Sell-side analysts predict that Ericsson will post 0.48 EPS for the current year.

Ericsson 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.