EdgePoint Investment Group Inc. Purchases 301,678 Shares of BlackBerry Limited (NYSE:BB)

EdgePoint Investment Group Inc. increased its holdings in BlackBerry Limited (NYSE:BB) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,224,473 shares of the company’s stock after acquiring an additional 301,678 shares during the period. BlackBerry comprises approximately 0.4% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 29th biggest holding. EdgePoint Investment Group Inc.’s holdings in BlackBerry were worth $46,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after acquiring an additional 3,811 shares during the last quarter. Masso Torrence Wealth Management Inc. purchased a new position in BlackBerry in the fourth quarter valued at approximately $38,000. Mindset Wealth Management LLC bought a new position in BlackBerry during the fourth quarter valued at $38,000. Quadrant Capital Group LLC increased its position in BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after buying an additional 5,008 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of BlackBerry during the 4th quarter valued at $40,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Stock Up 3.1 %

BB stock opened at $3.80 on Friday. The company’s 50 day moving average is $3.71 and its 200 day moving average is $3.65. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -17.25 and a beta of 1.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 1-year low of $2.01 and a 1-year high of $6.24.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Sell-side analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Activity at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company’s stock, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 37,216 shares of company stock valued at $112,025. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BB. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research note on Thursday, April 3rd. Canaccord Genuity Group cut their price target on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a report on Thursday, April 3rd. Finally, CIBC reduced their target price on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BlackBerry presently has an average rating of “Hold” and an average price target of $4.12.

About BlackBerry

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.