Man Group plc bought a new stake in shares of BlackBerry Ltd (NYSE:BB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 176,033 shares of the company’s stock, valued at approximately $2,003,000.
A number of other institutional investors also recently added to or reduced their stakes in BB. Gabelli Funds LLC acquired a new position in BlackBerry during the 3rd quarter valued at about $114,000. Robotti Robert acquired a new position in shares of BlackBerry in the 3rd quarter worth approximately $114,000. US Bancorp DE acquired a new position in shares of BlackBerry in the 3rd quarter worth approximately $119,000. King Luther Capital Management Corp acquired a new position in shares of BlackBerry in the 3rd quarter worth approximately $127,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of BlackBerry in the 3rd quarter worth approximately $128,000. 53.71% of the stock is currently owned by hedge funds and other institutional investors.
BB has been the topic of several recent research reports. CIBC cut shares of BlackBerry to a “buy” rating in a research note on Sunday, December 30th. TheStreet cut shares of BlackBerry from a “c-” rating to a “d+” rating in a research note on Friday, December 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of BlackBerry in a research note on Friday, December 21st. Canaccord Genuity lowered their price objective on shares of BlackBerry from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, December 21st. Finally, Zacks Investment Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $10.78.
BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 20th. The company reported $0.05 EPS for the quarter, topping the 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 company had revenue of $226.00 million during the quarter, compared to analysts’ expectations of $215.38 million. During the same period last year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts anticipate that BlackBerry Ltd will post 0.02 earnings per share for the current fiscal year.
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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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