Oppenheimer & Co. Inc. acquired a new position in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,650 shares of the company’s stock, valued at approximately $645,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in BlackBerry Limited by 3.1% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 87,650 shares of the company’s stock worth $609,000 after buying an additional 2,650 shares during the last quarter. Bank of America Corp DE boosted its stake in BlackBerry Limited by 300.0% during the first quarter. Bank of America Corp DE now owns 754,290 shares of the company’s stock worth $5,847,000 after buying an additional 565,739 shares during the last quarter. Tobam acquired a new position in BlackBerry Limited during the second quarter worth $1,626,000. Canada Pension Plan Investment Board boosted its stake in BlackBerry Limited by 498.0% during the second quarter. Canada Pension Plan Investment Board now owns 434,118 shares of the company’s stock worth $4,332,000 after buying an additional 361,518 shares during the last quarter. Finally, TFS Capital LLC acquired a new position in BlackBerry Limited during the first quarter worth $165,000. 63.36% of the stock is currently owned by institutional investors.
Shares of BlackBerry Limited (BBRY) opened at 9.28 on Wednesday. The firm’s 50-day moving average price is $9.15 and its 200 day moving average price is $9.14. BlackBerry Limited has a one year low of $6.65 and a one year high of $11.74. The stock has a market cap of $4.93 billion, a P/E ratio of 38.19 and a beta of 0.99.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its earnings results on Friday, June 23rd. The company reported $0.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.02. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $262.80 million. The business’s revenue was down 42.5% compared to the same quarter last year. Equities research analysts expect that BlackBerry Limited will post $0.04 EPS for the current fiscal year.
BlackBerry Limited declared that its board has approved a stock repurchase plan on Friday, June 23rd that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have weighed in on BBRY. Raymond James Financial, Inc. lowered BlackBerry Limited from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $9.50 to $11.00 in a research note on Monday, May 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.50 price objective on shares of BlackBerry Limited in a research note on Monday, June 26th. BidaskClub lowered BlackBerry Limited from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of BlackBerry Limited in a research note on Sunday, August 13th. Finally, William Blair reissued a “market perform” rating on shares of BlackBerry Limited in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.56.
BlackBerry Limited Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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