Koss Olinger Consulting LLC Has $112,000 Position in Ericsson (NASDAQ:ERIC)

Key Points

• Koss Olinger Consulting LLC reduced its stake in Ericsson by 89.8% in Q1, now holding 14,442 shares valued at $112,000.
• Several institutional investors, including SG Americas Securities LLC and Schechter Investment Advisors LLC, increased their positions in Ericsson during the same period.
• Ericsson recently reported an EPS of $0.14 for Q2, exceeding estimates, although its revenue fell 6.2% year-over-year.

Koss Olinger Consulting LLC cut its stake in shares of Ericsson (NASDAQ:ERIC - Free Report) by 89.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,442 shares of the communications equipment provider's stock after selling 127,377 shares during the quarter. Koss Olinger Consulting LLC's holdings in Ericsson were worth $112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ERIC. Millennium Management LLC raised its holdings in shares of Ericsson by 234.6% during the fourth quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider's stock worth $54,364,000 after acquiring an additional 4,729,207 shares in the last quarter. DigitalBridge Group Inc. raised its holdings 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 worth $51,440,000 after acquiring an additional 1,427,386 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Ericsson during the first quarter worth $24,146,000. Two Sigma Advisers LP raised its holdings in shares of Ericsson by 21.2% during 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 acquiring an additional 431,300 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of Ericsson by 20.5% during the fourth quarter. Boothbay Fund Management LLC now owns 2,257,459 shares of the communications equipment provider's stock worth $18,195,000 after acquiring an additional 383,463 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Ericsson Stock Up 1.2%

NASDAQ ERIC traded up $0.10 during trading on Friday, hitting $7.71. 2,835,380 shares of the company traded hands, compared to its average volume of 21,223,053. Ericsson has a 12 month low of $6.64 and a 12 month high of $8.99. The business has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $8.02. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $25.80 billion, a P/E ratio of 15.41, a PEG ratio of 12.23 and a beta of 0.85.

Ericsson (NASDAQ:ERIC - Get Free Report) last posted its earnings results 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. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $60.54 billion. During the same period last year, the company earned ($3.34) earnings per share. The business's revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Ericsson will post 0.48 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Ericsson from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th.

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.