On April 12, 2023 at 09:52:19 ET an unusually large $239.43K block of Put contracts in Ericsson Telephone (ERIC) was bought, with a strike price of $7.00 / share, expiring in 100 days (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.54 sigmas above the mean, placing it in the 94.60 percentile of all recent large trades made in ERIC options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 18.69% Upside
As of April 6, 2023, the average one-year price target for Ericsson Telephone is $6.92. The forecasts range from a low of $4.86 to a high of $10.71. The average price target represents an increase of 18.69% from its latest reported closing price of $5.83.
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The projected annual revenue for Ericsson Telephone is $291,785MM, an increase of 7.45%. The projected annual non-GAAP EPS is $7.44.
What is the Fund Sentiment?
There are 365 funds or institutions reporting positions in Ericsson Telephone. This is a decrease of 15 owner(s) or 3.95% in the last quarter. Average portfolio weight of all funds dedicated to ERIC is 0.17%, an increase of 0.63%. Total shares owned by institutions decreased in the last three months by 4.04% to 368,454K shares. The put/call ratio of ERIC is 1.04, indicating a bearish outlook.
What are Large Shareholders Doing?
Primecap Management holds 67,724K shares representing 2.03% ownership of the company. In it’s prior filing, the firm reported owning 82,415K shares, representing a decrease of 21.69%. The firm decreased its portfolio allocation in ERIC by 20.90% over the last quarter.
Hotchkis & Wiley Capital Management holds 50,501K shares representing 1.52% ownership of the company. In it’s prior filing, the firm reported owning 41,745K shares, representing an increase of 17.34%. The firm increased its portfolio allocation in ERIC by 9.97% over the last quarter.
VPMCX – Vanguard PRIMECAP Fund Investor Shares holds 44,948K shares representing 1.35% ownership of the company. In it’s prior filing, the firm reported owning 53,794K shares, representing a decrease of 19.68%. The firm decreased its portfolio allocation in ERIC by 20.90% over the last quarter.
VWNFX – Vanguard Windsor II Fund Investor Shares holds 20,291K shares representing 0.61% ownership of the company. In it’s prior filing, the firm reported owning 19,800K shares, representing an increase of 2.42%. The firm increased its portfolio allocation in ERIC by 1.14% over the last quarter.
SRB holds 18,180K shares representing 0.55% ownership of the company. No change in the last quarter.
Telefonaktiebolaget L M Ericsson Background Information
(This description is provided by the company.)
Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm.
This article originally appeared on Fintel
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