Creative Planning Acquires 1,900 Shares of BlackBerry Limited (BBRY)
Creative Planning raised its stake in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 18.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,122 shares of the company’s stock after buying an additional 1,900 shares during the period. Creative Planning’s holdings in BlackBerry Limited were worth $121,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Iridian Asset Management LLC CT increased its position in shares of BlackBerry Limited by 25.8% in the first quarter. Iridian Asset Management LLC CT now owns 26,338,893 shares of the company’s stock worth $204,126,000 after buying an additional 5,403,804 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of BlackBerry Limited by 83.9% in the first quarter. OppenheimerFunds Inc. now owns 7,357,607 shares of the company’s stock worth $57,005,000 after buying an additional 3,356,948 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of BlackBerry Limited by 48.9% in the first quarter. First Eagle Investment Management LLC now owns 6,159,856 shares of the company’s stock worth $47,739,000 after buying an additional 2,022,000 shares during the last quarter. Bank of America Corp DE increased its position in shares of BlackBerry Limited by 300.0% in 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. Finally, Vanguard Group Inc. increased its position in shares of BlackBerry Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 10,428,072 shares of the company’s stock worth $80,818,000 after buying an additional 493,101 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.
BlackBerry Limited (BBRY) traded down 0.78% during trading on Tuesday, hitting $8.88. 1,379,014 shares of the company traded hands. BlackBerry Limited has a 52-week low of $6.65 and a 52-week high of $11.74. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 36.54 and a beta of 0.97. The company’s 50-day moving average is $9.71 and its 200 day moving average is $8.90.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its quarterly earnings results on Friday, June 23rd. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $244 million for the quarter, compared to analyst estimates of $262.80 million. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. BlackBerry Limited’s revenue for the quarter was down 42.5% on a year-over-year basis. On average, equities analysts anticipate that BlackBerry Limited will post $0.04 earnings per share for the current year.
BlackBerry Limited announced that its board has initiated a stock repurchase program on Friday, June 23rd that authorizes the company to buyback 31,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
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A number of research analysts have recently issued reports on BBRY shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $9.50 price objective on shares of BlackBerry Limited in a research report on Thursday, June 15th. Raymond James Financial, Inc. downgraded shares of BlackBerry Limited from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $9.50 to $11.00 in a research report on Monday, May 29th. TheStreet downgraded shares of BlackBerry Limited from a “b-” rating to a “c+” rating in a research report on Monday, July 17th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $7.50 price objective (up previously from $7.00) on shares of BlackBerry Limited in a research report on Monday, June 26th. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of BlackBerry Limited in a research report on Monday, August 7th. They issued a “sell” rating and a $8.50 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $9.47.
About BlackBerry Limited
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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