Ericsson (ADR) (NASDAQ:ERIC) was in 16 hedge funds’ portfolio at the end of March. ERIC shareholders have witnessed an increase in enthusiasm from smart money recently. There were 15 hedge funds in our database with ERIC positions at the end of the previous quarter.
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Consequently, it’s important to take a peek at the key action encompassing Ericsson (ADR) (NASDAQ:ERIC).
How have hedgies been trading Ericsson (ADR) (NASDAQ:ERIC)?
At the end of the first quarter, a total of 16 of the hedge funds we track were long in this stock, a change of 7% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings substantially.
According to our comprehensive database, Valinor Management LLC, managed by David Gallo, holds the most valuable position in Ericsson (ADR) (NASDAQ:ERIC). Valinor Management LLC has a $43.4 million position in the stock, comprising 1.9% of its 13F portfolio. Sitting at the No. 2 spot is Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $31.8 million position; 0.3% of its 13F portfolio is allocated to the company. Other hedge funds that hold long positions include Lee Ainslie’s Maverick Capital, Israel Englander’s Millennium Management and Ken Fisher’s Fisher Asset Management.
As industrywide interest jumped, some big names have jumped into Ericsson (ADR) (NASDAQ:ERIC) headfirst. Empire Capital Management, managed by Scott Fine and Peter Richards, created the biggest position in Ericsson (ADR) (NASDAQ:ERIC). Empire Capital Management had 5 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $3.7 million investment in the stock during the quarter. The other funds with brand new ERIC positions are Steven Cohen’s SAC Capital Advisors and Matthew Tewksbury’s Stevens Capital Management.
What do corporate executives and insiders think about Ericsson (ADR) (NASDAQ:ERIC)?
Insider purchases made by high-level executives is at its handiest when the primary stock in question has experienced transactions within the past 180 days. Over the last 180-day time frame, Ericsson (ADR) (NASDAQ:ERIC) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Ericsson (ADR) (NASDAQ:ERIC). These stocks are Echostar Corporation (NASDAQ:SATS), Harris Corporation (NYSE:HRS), Nokia Corporation (ADR) (NYSE:NOK), QUALCOMM, Inc. (NASDAQ:QCOM), and Motorola Solutions Inc (NYSE:MSI). This group of stocks are in the communication equipment industry and their market caps are closest to ERIC’s market cap.