Quantum Capital Management Has $121,000 Holdings in Ericsson (ERIC)
Quantum Capital Management continued to hold its position in shares of Ericsson (NASDAQ:ERIC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,922 shares of the communications equipment provider’s stock at the close of the second quarter. Quantum Capital Management’s holdings in Ericsson were worth $121,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ERIC. Two Sigma Securities LLC acquired a new position in shares of Ericsson in the 1st quarter valued at $106,000. Mackenzie Financial Corp acquired a new position in shares of Ericsson in the 1st quarter valued at $109,000. GenTrust LLC acquired a new position in shares of Ericsson in the 2nd quarter valued at $120,000. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Ericsson by 1.0% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 174 shares during the period. Finally, Ronald Blue & Co. LLC lifted its stake in shares of Ericsson by 7.0% in the 2nd quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 1,283 shares during the period. 7.95% of the stock is currently owned by hedge funds and other institutional investors.
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ERIC has been the topic of a number of analyst reports. Zacks Investment Research downgraded Ericsson from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Citigroup Inc. initiated coverage on Ericsson in a research note on Thursday, June 8th. They issued a “buy” rating on the stock. Danske downgraded Ericsson from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. BidaskClub downgraded Ericsson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Societe Generale initiated coverage on Ericsson in a research note on Wednesday, June 14th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.95.
Ericsson (ERIC) traded down 0.53% during mid-day trading on Friday, hitting $5.65. 3,755,196 shares of the company were exchanged. Ericsson has a 12-month low of $4.83 and a 12-month high of $7.47.
Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $49.90 billion during the quarter, compared to analyst estimates of $50.66 billion. Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. Ericsson’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, analysts forecast that Ericsson will post $0.23 earnings per share for the current year.
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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