Jump Financial LLC Sells 1,388,376 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Jump Financial LLC cut its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 97.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,455 shares of the communications equipment provider's stock after selling 1,388,376 shares during the quarter. Jump Financial LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Guggenheim Capital LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 118.1% during the 4th quarter. Guggenheim Capital LLC now owns 113,012 shares of the communications equipment provider's stock valued at $911,000 after acquiring an additional 61,195 shares in the last quarter. Mariner LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.4% in the 4th quarter. Mariner LLC now owns 102,599 shares of the communications equipment provider's stock valued at $827,000 after purchasing an additional 6,202 shares during the period. Townsquare Capital LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 448.5% in the 4th quarter. Townsquare Capital LLC now owns 90,296 shares of the communications equipment provider's stock worth $728,000 after buying an additional 73,835 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $3,082,000. Finally, Scotia Capital Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $176,000. Institutional investors own 7.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ERIC. Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.9 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.16 on Friday, hitting $8.39. 13,831,664 shares of the company's stock traded hands, compared to its average volume of 22,626,047. The firm's 50-day moving average price is $7.97 and its two-hundred day moving average price is $8.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The stock has a market capitalization of $27.94 billion, a PE ratio of -838,500.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a one year low of $5.20 and a one year high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. On average, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) 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.