Kahn Brothers Group Inc. DE raised its stake in BlackBerry Ltd (NYSE:BB) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,653,081 shares of the company’s stock after purchasing an additional 89,391 shares during the period. BlackBerry accounts for approximately 3.7% of Kahn Brothers Group Inc. DE’s investment portfolio, making the stock its 10th largest holding. Kahn Brothers Group Inc. DE owned about 1.03% of BlackBerry worth $29,679,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of BB. Invesco Ltd. boosted its holdings in BlackBerry by 1,306.5% in the second quarter. Invesco Ltd. now owns 11,969,830 shares of the company’s stock worth $89,296,000 after acquiring an additional 11,118,807 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of BlackBerry by 43.9% in the second quarter. Renaissance Technologies LLC now owns 6,099,087 shares of the company’s stock valued at $45,499,000 after buying an additional 1,860,044 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of BlackBerry in the second quarter valued at approximately $11,563,000. ARS Investment Partners LLC increased its position in shares of BlackBerry by 5,783.8% in the second quarter. ARS Investment Partners LLC now owns 1,217,950 shares of the company’s stock valued at $9,086,000 after buying an additional 1,197,250 shares in the last quarter. Finally, AXA increased its position in shares of BlackBerry by 23.8% in the second quarter. AXA now owns 4,916,590 shares of the company’s stock valued at $36,678,000 after buying an additional 944,746 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.
Shares of BB traded up $0.01 during trading hours on Friday, hitting $5.54. 2,859,533 shares of the stock were exchanged, compared to its average volume of 4,490,700. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.28. BlackBerry Ltd has a 12-month low of $4.86 and a 12-month high of $10.29. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 42.62 and a beta of 1.74. The stock’s 50-day moving average price is $5.49 and its two-hundred day moving average price is $7.19.
BlackBerry (NYSE:BB) last issued its quarterly earnings results on Tuesday, September 24th. The company reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $267.91 million. BlackBerry had a return on equity of 1.32% and a net margin of 3.19%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, research analysts expect that BlackBerry Ltd will post -0.05 earnings per share for the current year.
BB has been the subject of a number of recent analyst reports. Bank of America upgraded BlackBerry from an “underperform” rating to a “neutral” rating in a research report on Monday. TD Securities cut their price objective on BlackBerry from $14.50 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Raymond James set a $9.50 price objective on BlackBerry and gave the company a “market perform” rating in a research report on Wednesday, September 25th. Scotiabank cut BlackBerry from an “outperform” rating to a “sector perform” rating and set a $7.50 price objective for the company. in a research report on Tuesday, September 24th. Finally, Macquarie cut their price objective on BlackBerry from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.55.
BlackBerry Company Profile
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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