Capstone Investment Advisors LLC Purchases New Stake in BlackBerry Limited (NYSE:BB)

Capstone Investment Advisors LLC acquired a new position in shares of BlackBerry Limited (NYSE:BB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 487,890 shares of the company’s stock, valued at approximately $1,285,000. Capstone Investment Advisors LLC owned about 0.08% of BlackBerry at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BB. Intact Investment Management Inc. lifted its stake in BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after buying an additional 294,250 shares during the period. Vanguard Group Inc. increased its position in shares of BlackBerry by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock worth $53,835,000 after acquiring an additional 149,444 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after purchasing an additional 488,934 shares during the period. Virtu Financial LLC boosted its position in shares of BlackBerry by 911.4% during the second quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock worth $920,000 after buying an additional 334,466 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after buying an additional 7,842 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BB. CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th. StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.23.

BlackBerry Price Performance

Shares of NYSE BB opened at $2.61 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $2.43 and its two-hundred day moving average price is $2.47. The company has a market cap of $1.54 billion, a PE ratio of -10.44 and a beta of 1.42. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $4.44.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, analysts predict that BlackBerry Limited will post -0.06 EPS for the current year.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.