Intercontinental Wealth Advisors LLC purchased a new position in shares of BlackBerry Ltd (NYSE:BB) during the second quarter, Holdings Channel.com reports. The fund purchased 5,670 shares of the company’s stock, valued at approximately $42,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Shell Asset Management Co. boosted its holdings in BlackBerry by 2.6% during the first quarter. Shell Asset Management Co. now owns 46,492 shares of the company’s stock worth $469,000 after buying an additional 1,200 shares in the last quarter. Cetera Advisors LLC raised its position in BlackBerry by 7.9% during the first quarter. Cetera Advisors LLC now owns 27,051 shares of the company’s stock worth $273,000 after acquiring an additional 1,980 shares during the period. Wealthcare Advisory Partners LLC raised its position in BlackBerry by 4.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 49,196 shares of the company’s stock worth $496,000 after acquiring an additional 2,305 shares during the period. Stevens Capital Management LP raised its position in BlackBerry by 1.7% during the first quarter. Stevens Capital Management LP now owns 178,133 shares of the company’s stock worth $1,797,000 after acquiring an additional 3,032 shares during the period. Finally, Investors Research Corp acquired a new position in BlackBerry during the first quarter worth $33,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on BB. Raymond James reduced their price objective on shares of BlackBerry from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada reduced their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, June 27th. Canaccord Genuity reduced their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, Macquarie began coverage on shares of BlackBerry in a research report on Friday. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. BlackBerry has a consensus rating of “Hold” and an average price target of $10.25.
BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, June 26th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. The business had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $264.55 million. BlackBerry had a net margin of 12.58% and a return on equity of 1.84%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. As a group, research analysts anticipate that BlackBerry Ltd will post -0.03 EPS for the current year.
BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.
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