IFP Advisors Inc acquired a new position in BlackBerry Ltd (NYSE:BB) during the 3rd quarter, HoldingsChannel reports. The fund acquired 28,265 shares of the company’s stock, valued at approximately $322,000.
Other large investors have also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new position in shares of BlackBerry during the third quarter worth $164,000. Aperio Group LLC acquired a new position in shares of BlackBerry during the third quarter worth $1,297,000. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of BlackBerry by 65.8% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 19,900 shares of the company’s stock worth $225,000 after purchasing an additional 7,900 shares in the last quarter. Andra AP fonden acquired a new position in shares of BlackBerry during the third quarter worth $3,557,000. Finally, Acadian Asset Management LLC acquired a new position in shares of BlackBerry during the second quarter worth $2,690,000. 56.20% of the stock is currently owned by institutional investors.
NYSE BB opened at $9.44 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.43 and a quick ratio of 6.43. BlackBerry Ltd has a 1 year low of $8.63 and a 1 year high of $14.55. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 188.80 and a beta of 1.71.
BlackBerry (NYSE:BB) last released its quarterly earnings data on Friday, September 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. BlackBerry had a negative net margin of 34.24% and a positive return on equity of 0.61%. The company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $209.41 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. BlackBerry’s revenue for the quarter was down 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that BlackBerry Ltd will post -0.03 EPS for the current fiscal year.
BB has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Thursday, October 4th. Raymond James upped their price objective on shares of BlackBerry from $11.00 to $11.50 and gave the company a “market perform” rating in a research note on Monday, October 1st. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. BlackBerry has a consensus rating of “Buy” and a consensus price target of $12.21.
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BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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