Man Group plc Takes $2 Million Position in BlackBerry Ltd (BB)

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.



Shares of BB opened at $7.57 on Friday. BlackBerry Ltd has a one year low of $6.57 and a one year high of $14.55. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 151.40, a PEG ratio of 20.12 and a beta of 1.80. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.26.

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.

COPYRIGHT VIOLATION NOTICE: This report was posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://dakotafinancialnews.com/2019/01/12/man-group-plc-takes-2-million-position-in-blackberry-ltd-bb.html.

BlackBerry Profile

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.

Featured Article: What Does Beta Mean In Stock Selection

Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

Receive News & Ratings for BlackBerry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply