BlackBerry Limited (NYSE:BB) Position Increased by Citigroup Inc.

Citigroup Inc. raised its holdings in shares of BlackBerry Limited (NYSE:BB) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,496 shares of the company’s stock after purchasing an additional 50,606 shares during the period. Citigroup Inc. owned about 0.08% of BlackBerry worth $5,365,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in shares of BlackBerry by 76.3% during the second quarter. Quadrant Capital Group LLC now owns 3,128 shares of the company’s stock valued at $38,000 after acquiring an additional 1,354 shares during the period. Credit Agricole S A boosted its holdings in shares of BlackBerry by 74.8% during the second quarter. Credit Agricole S A now owns 3,469 shares of the company’s stock valued at $42,000 after acquiring an additional 1,484 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of BlackBerry during the first quarter valued at $34,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of BlackBerry by 751.8% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,259 shares of the company’s stock valued at $36,000 after acquiring an additional 3,759 shares during the period. Finally, Rathbone Brothers plc acquired a new position in shares of BlackBerry during the first quarter valued at $84,000. Hedge funds and other institutional investors own 36.16% of the company’s stock.

BB stock opened at $10.38 on Friday. The company has a market capitalization of $5.89 billion, a P/E ratio of -11.04 and a beta of 1.23. The company has a 50-day simple moving average of $10.36 and a 200 day simple moving average of $10.49. BlackBerry Limited has a fifty-two week low of $4.37 and a fifty-two week high of $28.77. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.49.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Tuesday, September 21st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $164.28 million. During the same period in the previous year, the business earned $0.10 earnings per share. BlackBerry’s revenue for the quarter was down 32.4% compared to the same quarter last year.

In other BlackBerry news, COO Thomas Eacobacci sold 109,994 shares of the business’s stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $10.06, for a total value of $1,106,539.64. Following the sale, the chief operating officer now directly owns 281,294 shares in the company, valued at $2,829,817.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on the stock. Raymond James reissued a “market perform” rating and set a $9.50 price target on shares of BlackBerry in a report on Thursday. Canaccord Genuity raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $10.00 price target for the company in a report on Wednesday, August 18th. CIBC downgraded shares of BlackBerry from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $9.00 to $11.00 in a report on Friday, June 25th. TD Securities upped their price objective on shares of BlackBerry from $8.50 to $9.00 and gave the stock a “reduce” rating in a report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sell” rating and issued a $9.50 price objective on shares of BlackBerry in a report on Friday, September 17th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, BlackBerry presently has an average rating of “Sell” and an average price target of $10.67.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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