Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BlackBerry Limited (NYSE:BB - Free Report) by 41.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,669,715 shares of the company's stock after acquiring an additional 4,039,483 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.31% of BlackBerry worth $51,856,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Creative Planning boosted its stake in shares of BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company's stock valued at $96,000 after purchasing an additional 10,585 shares during the period. GSA Capital Partners LLP boosted its stake in shares of BlackBerry by 189.5% during the third quarter. GSA Capital Partners LLP now owns 165,394 shares of the company's stock valued at $433,000 after purchasing an additional 108,268 shares during the period. CIBC Asset Management Inc boosted its stake in shares of BlackBerry by 8.9% during the third quarter. CIBC Asset Management Inc now owns 700,933 shares of the company's stock valued at $1,846,000 after purchasing an additional 57,123 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of BlackBerry by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company's stock valued at $3,194,000 after purchasing an additional 11,899 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of BlackBerry by 10.4% during the third quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company's stock valued at $1,284,000 after purchasing an additional 46,101 shares during the period. Institutional investors own 54.48% of the company's stock.
BlackBerry Stock Performance
BB stock opened at $4.38 on Thursday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -19.89 and a beta of 1.27. The firm has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $3.31. BlackBerry Limited has a one year low of $2.01 and a one year high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.
BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company's quarterly revenue was down 5.9% on a year-over-year basis. On average, equities analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
BB has been the subject of a number of recent analyst reports. TD Cowen raised shares of BlackBerry from a "hold" rating to a "buy" rating and boosted their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada upped their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a research note on Friday, January 10th. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Monday, December 9th. Finally, TD Securities raised shares of BlackBerry from a "hold" rating to a "buy" rating and upped their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $3.91.
Read Our Latest Stock Analysis on BB
Insider Transactions at BlackBerry
In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the transaction, the insider now owns 278,306 shares in the company, valued at approximately $1,113,224. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jay P. Chai sold 24,425 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock valued at $925,655 in the last 90 days. 0.34% of the stock is currently owned by company insiders.
About BlackBerry
(
Free Report)
BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.
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