QCM Cayman Ltd. Invests $154,000 in BlackBerry Limited (BBRY)
QCM Cayman Ltd. purchased a new stake in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,423 shares of the company’s stock, valued at approximately $154,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BBRY. Creative Planning boosted its position in shares of BlackBerry Limited by 18.6% during the second quarter. Creative Planning now owns 12,122 shares of the company’s stock worth $121,000 after buying an additional 1,900 shares during the period. B & T Capital Management DBA Alpha Capital Management bought a new position in BlackBerry Limited in the 2nd quarter worth approximately $123,000. American Asset Management Inc. bought a new position in BlackBerry Limited in the 2nd quarter worth approximately $123,000. Capital Investment Counsel Inc bought a new position in BlackBerry Limited in the 1st quarter worth approximately $126,000. Finally, Private Advisor Group LLC bought a new position in BlackBerry Limited in the 2nd quarter worth approximately $138,000. 63.32% of the stock is currently owned by institutional investors.
BBRY has been the topic of several analyst reports. Vetr upgraded BlackBerry Limited from a “buy” rating to a “strong-buy” rating and set a $12.74 target price on the stock in a research report on Monday, June 5th. Credit Suisse Group reiterated an “underperform” rating and set a $8.00 price target on shares of BlackBerry Limited in a research report on Tuesday, June 6th. Imperial Capital boosted their price target on BlackBerry Limited from $8.25 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, June 15th. Royal Bank Of Canada reissued a “hold” rating and issued a $9.50 price target on shares of BlackBerry Limited in a research note on Thursday, June 15th. Finally, Morgan Stanley decreased their price target on BlackBerry Limited from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.60.
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BlackBerry Limited (BBRY) traded up 0.224% during mid-day trading on Monday, hitting $11.205. The stock had a trading volume of 5,739,195 shares. BlackBerry Limited has a 1-year low of $6.65 and a 1-year high of $11.74. The company has a market cap of $5.94 billion, a P/E ratio of 11.587 and a beta of 1.00. The company has a 50-day moving average price of $9.05 and a 200 day moving average price of $9.24.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its earnings results on Thursday, September 28th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a net margin of 49.62% and a return on equity of 2.70%. The firm had revenue of $238.00 million during the quarter, compared to the consensus estimate of $221.21 million. The business’s revenue was down 32.4% compared to the same quarter last year. Equities research analysts forecast that BlackBerry Limited will post $0.04 EPS for the current fiscal year.
BlackBerry Limited declared that its Board of Directors has initiated a stock repurchase plan on Friday, June 23rd that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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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