Cavalry Management Group LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,506,039 shares of the communications equipment provider’s stock, valued at approximately $39,935,000. Telefonaktiebolaget LM Ericsson makes up 9.3% of Cavalry Management Group LLC’s holdings, making the stock its largest holding. Cavalry Management Group LLC owned approximately 0.14% of Telefonaktiebolaget LM Ericsson as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $42,000. Private Advisor Group LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $110,000. Atlas Capital Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $152,000. HRT Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 3rd quarter worth approximately $186,000. Finally, Franklin Resources Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 3rd quarter worth approximately $196,000. Hedge funds and other institutional investors own 7.73% of the company’s stock.
Shares of NASDAQ:ERIC opened at $9.63 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.35. Telefonaktiebolaget LM Ericsson has a twelve month low of $6.00 and a twelve month high of $9.67. The company has a market cap of $31.94 billion, a PE ratio of 321.00, a PEG ratio of 0.74 and a beta of 0.52.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a positive return on equity of 1.32% and a negative net margin of 2.91%. The firm had revenue of $63.80 billion for the quarter, compared to analyst estimates of $61.50 billion. During the same period in the previous year, the company earned ($1.19) earnings per share. Telefonaktiebolaget LM Ericsson’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.3 EPS for the current fiscal year.
A number of research firms have issued reports on ERIC. Zacks Investment Research cut Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a report on Thursday, February 14th. Raymond James raised Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 20th. BidaskClub raised Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Finally, ValuEngine lowered Telefonaktiebolaget LM Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.54.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
Featured Story: What is the downside to momentum investing?
Want to see what other hedge funds are holding ERIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).
Receive News & Ratings for Telefonaktiebolaget LM Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.