Man Group plc acquired a new stake in shares of BlackBerry Ltd (NYSE:BB) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 176,033 shares of the company’s stock, valued at approximately $2,003,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Primecap Management Co. CA bought a new position in shares of BlackBerry in the third quarter valued at approximately $839,034,000. Iridian Asset Management LLC CT bought a new position in shares of BlackBerry in the third quarter valued at approximately $151,316,000. Ontario Teachers Pension Plan Board bought a new position in shares of BlackBerry in the third quarter valued at approximately $90,990,000. TD Asset Management Inc. bought a new position in shares of BlackBerry in the third quarter valued at approximately $51,825,000. Finally, Kahn Brothers Group Inc. DE bought a new position in shares of BlackBerry in the third quarter valued at approximately $52,025,000. 53.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BB stock opened at $7.57 on Friday. BlackBerry Ltd has a 1 year low of $6.57 and a 1 year high of $14.55. The firm has a market cap of $4.09 billion, a P/E ratio of 151.40, a P/E/G ratio of 20.12 and a beta of 1.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.77 and a current ratio of 6.77.
BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. BlackBerry had a net margin of 3.63% and a return on equity of 0.98%. The business had revenue of $226.00 million for the quarter, compared to analyst estimates of $215.38 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. BlackBerry’s revenue was up .0% compared to the same quarter last year. Analysts predict that BlackBerry Ltd will post 0.02 EPS for the current year.
A number of research firms have recently commented on BB. Raymond James lifted their price target on shares of BlackBerry from $11.00 to $11.50 and gave the company a “market perform” rating in a research report on Monday, October 1st. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 4th. CIBC raised shares of BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Monday, November 19th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “hold” rating on shares of BlackBerry in a research report on Friday, November 16th. Finally, Royal Bank of Canada dropped their target price on shares of BlackBerry from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Friday, December 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. BlackBerry presently has a consensus rating of “Hold” and a consensus price target of $10.78.
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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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