Hotchkis & Wiley Capital Manageme recently announced the acquisition of new stake in Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC). The institutional investor has increased its shareholding in the Technology company by 35.67% to 141.93 million shares with purchase of 37.32 million shares. This fresh investment now brings its stake to 4.61% valued currently at $694.06 million. In addition, American Beacon Advisors, Inc. raised its holdings by 1.8 million to 7.9 million shares.
Currently, there are 3.07B common shares owned by the public and among those 3.07B shares have been available to trade.
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Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 455 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Telefonaktiebolaget L M Ericsson ADR are Vanguard Windsor Funds – Vanguard, Vanguard PRIMECAP Fund, and Hotchkis & Wiley Value Opportunit. Vanguard Windsor Funds – Vanguard owns 54.6 million shares of the company’s stock, all valued at over $267.0 million. The company bought an additional 17.59 million shares recently to bring their total holdings to about 1.77% of the shares outstanding. Hotchkis & Wiley Value Opportunit now owns shares totaling to 0.28% of the shares outstanding.
However, the script later moved the day high at 5.99, down -0.33%. The company’s stock has a 5-day price change of 5.11% and 16.37% over the past three months. ERIC shares are trading 2.23% year to date (YTD), with the 12-month market performance down to -2.13% lower. It has a 12-month low price of $4.33 and touched a high of $6.43 over the same period. ERIC has an average intraday trading volume of 11.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.24%, 22.03%, and 15.68% respectively.
Institutional ownership of Telefonaktiebolaget L M Ericsson ADR (NASDAQ: ERIC) shares accounts for 8.91% of the company’s 3.07B shares outstanding. Mutual fund holders own 4.35%, while other institutional holders and individual stakeholders account for 4.76% and — respectively.
It has a market capitalization of $18.32B and a beta (3y monthly) value of 0.74. The earnings-per-share (ttm) stands at -$0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.74% over the week and 1.89% over the month.
Analysts forecast that Telefonaktiebolaget L M Ericsson ADR (ERIC) will achieve an EPS of $0.16 for the current quarter, $0.05 for the next quarter and $0.5 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.21 a year ago. Earnings per share for the fiscal year are expected to decrease by -233.62%, and 164.39% over the next financial year.
