Terra Nova Asset Management LLC Invests $491,000 in BlackBerry Ltd (BB)

Terra Nova Asset Management LLC purchased a new stake in shares of BlackBerry Ltd (NYSE:BB) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 43,135 shares of the company’s stock, valued at approximately $491,000.

A number of other large investors have also recently added to or reduced their stakes in BB. Beck Mack & Oliver LLC bought a new stake in BlackBerry in the 3rd quarter worth approximately $37,276,000. Legal & General Group Plc bought a new stake in BlackBerry in the 1st quarter worth approximately $23,413,000. BlackRock Inc. bought a new stake in BlackBerry in the 1st quarter worth approximately $21,452,000. Intact Investment Management Inc. bought a new stake in BlackBerry in the 3rd quarter worth approximately $7,575,000. Finally, Hexavest Inc. bought a new stake in BlackBerry in the 2nd quarter worth approximately $4,147,000. Institutional investors own 56.07% of the company’s stock.

BlackBerry stock traded down $0.15 during trading hours on Monday, reaching $8.81. The company had a trading volume of 4,180,969 shares, compared to its average volume of 5,018,691. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.43 and a quick ratio of 6.43. The stock has a market capitalization of $4.82 billion, a P/E ratio of 176.20 and a beta of 1.53. BlackBerry Ltd has a 12-month low of $8.63 and a 12-month high of $14.55.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Friday, September 28th. The company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $209.41 million. BlackBerry had a positive return on equity of 0.61% and a negative net margin of 34.24%. The business’s quarterly revenue was down 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. Sell-side analysts expect that BlackBerry Ltd will post -0.03 earnings per share for the current fiscal year.

A number of research firms recently weighed in on BB. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Thursday, October 4th. Raymond James boosted their target price on BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a research report on Monday, October 1st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.21.

About BlackBerry

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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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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