Today: Today, RMB Capital Management LLC Buys 122,402 Shares of Ericsson (ERIC)

Today, RMB Capital Management LLC Buys 122,402 Shares of Ericsson (ERIC)

RMB Capital Management LLC raised its position in Ericsson (NASDAQ:ERIC) by 126.8% during the third quarter, Holdings Channel reports. The institutional investor owned 218,927 shares of the company’s stock after buying an additional 122,402 shares during the period. RMB Capital Management LLC’s holdings in Ericsson were worth $1,579,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Primecap Management Co. CA boosted its stake in shares of Ericsson by 4.1% in the second quarter. Primecap Management Co. CA now owns 81,505,704 shares of the company’s stock worth $625,964,000 after buying an additional 3,247,500 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock worth $314,724,000 after buying an additional 12,562,156 shares during the period. Cambiar Investors LLC boosted its stake in Ericsson by 12.3% in the third quarter. Cambiar Investors LLC now owns 20,246,012 shares of the company’s stock worth $145,974,000 after buying an additional 2,221,436 shares during the period. Brandes Investment Partners LP boosted its stake in Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock worth $79,327,000 after buying an additional 2,541,781 shares during the period. Finally, Aperio Group LLC boosted its stake in Ericsson by 30.4% in the third quarter. Aperio Group LLC now owns 2,793,580 shares of the company’s stock worth $20,142,000 after buying an additional 650,920 shares during the period. Hedge funds and other institutional investors own 7.47% of the company’s stock.

Ericsson (NASDAQ:ERIC) traded up 0.19% on Friday, reaching $5.18. 1,113,225 shares of the company traded hands. The stock has a 50-day moving average price of $0.00 and a 200-day moving average price of $0.00. Ericsson has a 52-week low of $4.83 and a 52-week high of $10.20.

ERIC has been the subject of a number of recent analyst reports. BNP Paribas restated a “hold” rating on shares of Ericsson in a report on Saturday, October 15th. Zacks Investment Research upgraded shares of Ericsson from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Argus restated a “hold” rating on shares of Ericsson in a report on Thursday, October 13th. Canaccord Genuity restated a “hold” rating and set a $5.50 price target (down from $7.00) on shares of Ericsson in a report on Thursday, October 13th. Finally, DNB Markets cut shares of Ericsson from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.21.

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.

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