Denali Advisors LLC Buys New Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Denali Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 459,679 shares of the communications equipment provider’s stock, valued at approximately $3,705,000.

Other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $81,000. Assetmark Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% during the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock valued at $94,000 after purchasing an additional 11,708 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $94,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at approximately $100,000. Finally, Fulton Bank N.A. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $8.30 on Wednesday. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. The company’s fifty day moving average price is $8.03 and its 200-day moving average price is $7.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The company has a market capitalization of $27.66 billion, a PE ratio of -830,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.77.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. On average, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

About Telefonaktiebolaget LM Ericsson (publ)

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.