First Trust Advisors LP purchased a new stake in BlackBerry Ltd (NYSE:BB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 113,414 shares of the company’s stock, valued at approximately $1,291,000.
Other hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new position in BlackBerry in the second quarter valued at $500,000. Andra AP fonden acquired a new stake in shares of BlackBerry during the third quarter worth about $3,557,000. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of BlackBerry by 65.8% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 19,900 shares of the company’s stock worth $225,000 after buying an additional 7,900 shares during the period. Aperio Group LLC acquired a new stake in shares of BlackBerry during the third quarter worth about $1,297,000. Finally, Seven Eight Capital LP acquired a new stake in shares of BlackBerry during the third quarter worth about $164,000. 53.72% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 3rd. CIBC upgraded shares of BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 target price for the company in a research note on Monday, November 19th. They noted that the move was a valuation call. Canaccord Genuity reiterated a “hold” rating on shares of BlackBerry in a research note on Friday, November 16th. Finally, Raymond James increased their target price on shares of BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a research note on Monday, October 1st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.13.
Shares of BB opened at $8.00 on Friday. BlackBerry Ltd has a fifty-two week low of $7.96 and a fifty-two week high of $14.55. The stock has a market cap of $4.55 billion, a PE ratio of 160.00 and a beta of 1.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.43 and a quick ratio of 6.43.
BlackBerry (NYSE:BB) last announced its earnings results on Friday, September 28th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $209.41 million. BlackBerry had a negative net margin of 34.24% and a positive return on equity of 0.61%. The business’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share.
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BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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