BlackBerry Limited (BBRY) Stake Increased by Clinton Group Inc.
Clinton Group Inc. grew its holdings in BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 31.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,590 shares of the company’s stock after buying an additional 39,616 shares during the period. Clinton Group Inc.’s holdings in BlackBerry Limited were worth $1,654,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Balyasny Asset Management LLC lifted its holdings in BlackBerry Limited by 514.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 517,120 shares of the company’s stock valued at $5,166,000 after purchasing an additional 432,921 shares during the last quarter. Advisor Group Inc. boosted its position in BlackBerry Limited by 48.0% during the second quarter. Advisor Group Inc. now owns 30,754 shares of the company’s stock worth $308,000 after purchasing an additional 9,979 shares during the period. FMR LLC boosted its position in BlackBerry Limited by 1,413.1% during the second quarter. FMR LLC now owns 3,469,494 shares of the company’s stock worth $34,673,000 after purchasing an additional 3,240,200 shares during the period. Vanguard Group Inc. boosted its position in BlackBerry Limited by 9.2% during the second quarter. Vanguard Group Inc. now owns 11,390,521 shares of the company’s stock worth $113,792,000 after purchasing an additional 962,449 shares during the period. Finally, Northern Trust Corp boosted its position in BlackBerry Limited by 79.9% during the second quarter. Northern Trust Corp now owns 213,061 shares of the company’s stock worth $2,128,000 after purchasing an additional 94,627 shares during the period. 63.32% of the stock is owned by institutional investors.
BlackBerry Limited (BBRY) traded down 2.1720% during midday trading on Tuesday, hitting $11.0937. 3,297,702 shares of the stock traded hands. The stock’s 50-day moving average price is $9.24 and its 200-day moving average price is $9.43. The stock has a market capitalization of $5.88 billion, a P/E ratio of 11.4723 and a beta of 1.00. BlackBerry Limited has a 52 week low of $6.65 and a 52 week high of $11.74.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $238.00 million during the quarter, compared to the consensus estimate of $221.21 million. BlackBerry Limited had a return on equity of 2.70% and a net margin of 49.62%. The business’s revenue for the quarter was down 32.4% on a year-over-year basis. Equities research analysts expect that BlackBerry Limited will post $0.06 EPS for the current fiscal year.
BlackBerry Limited declared that its Board of Directors has initiated a stock buyback program on Friday, June 23rd that allows the company to repurchase 31,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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BBRY has been the topic of several research analyst reports. Canaccord Genuity reissued a “hold” rating and issued a $10.00 price objective on shares of BlackBerry Limited in a research report on Monday. TD Securities raised their price objective on shares of BlackBerry Limited from $11.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday. Vetr downgraded BlackBerry Limited from a “buy” rating to a “hold” rating and set a $10.20 target price on the stock. in a research report on Monday. BMO Capital Markets restated a “hold” rating and issued a $10.00 price target on shares of BlackBerry Limited in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on shares of BlackBerry Limited from $9.50 to $10.50 and gave the company a “sector perform” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. BlackBerry Limited currently has a consensus rating of “Hold” and an average price target of $9.60.
BlackBerry Limited Company 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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