Hotchkis & Wiley Capital Management LLC Trimmed Its Stake in Ericsson (ERIC) by $212.77 Million

October 13, 2018 - By Ash

Telefonaktiebolaget LM Ericsson (NASDAQ:publ) Logo

Hotchkis & Wiley Capital Management Llc decreased its stake in Ericsson (ERIC) by 28.64% based on its latest 2018Q2 regulatory filing with the SEC. Hotchkis & Wiley Capital Management Llc sold 30.40 million shares as the company’s stock rose 10.14% with the market. The institutional investor held 75.74M shares of the radio and television broadcasting and communications equipment company at the end of 2018Q2, valued at $580.95M, down from 106.14 million at the end of the previous reported quarter. Hotchkis & Wiley Capital Management Llc who had been investing in Ericsson for a number of months, seems to be less bullish one the $27.10B market cap company. The stock decreased 0.24% or $0.02 during the last trading session, reaching $8.23. About 9.15 million shares traded or 108.57% up from the average. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has risen 45.53% since October 13, 2017 and is uptrending. It has outperformed by 29.91% the S&P500.

Hotchkis & Wiley Capital Management Llc, which manages about $25.96 billion and $26.51B US Long portfolio, upped its stake in Discovery Inc (NASDAQ:DISCK) by 9.98 million shares to 26.00M shares, valued at $662.96 million in 2018Q2, according to the filing. It also increased its holding in Clearwater Paper Corp (NYSE:CLW) by 131,860 shares in the quarter, for a total of 150,485 shares, and has risen its stake in Meredith Corp (NYSE:MDP).

Telefonaktiebolaget LM Ericsson (NASDAQ:publ) Ratings Coverage

Among 7 analysts covering Ericsson – ADS each representing 1 underlying Class B share (NASDAQ:ERIC), 2 have Buy rating, 1 Sell and 4 Hold. Therefore 29% are positive. Ericsson – ADS each representing 1 underlying Class B share had 8 analyst reports since April 20, 2018 according to SRatingsIntel. Bank of America maintained the stock with “Neutral” rating in Thursday, September 13 report. The company was maintained on Friday, September 28 by Canaccord Genuity. The firm has “Neutral” rating given on Wednesday, September 19 by Credit Suisse. The company was upgraded on Wednesday, September 5 by JP Morgan. The rating was downgraded by Raymond James on Friday, July 20 to “Underperform”. On Wednesday, July 25 the stock rating was upgraded by Bank of America to “Neutral”. Cowen & Co upgraded Telefonaktiebolaget LM Ericsson (NASDAQ:publ) rating on Friday, April 20. Cowen & Co has “Market Perform” rating and $7 target. The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:publ) has “Buy” rating given on Monday, April 23 by Charter Equity.

Telefonaktiebolaget LM Ericsson (NASDAQ:publ) Ratings Chart

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