Triasima Portfolio Management inc. Makes New Investment in BlackBerry Limited $BB

Triasima Portfolio Management inc. acquired a new position in BlackBerry Limited (NYSE:BB) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 90,000 shares of the company’s stock, valued at approximately $814,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BB. CoreCap Advisors LLC bought a new position in BlackBerry in the 2nd quarter valued at $31,000. Integrated Wealth Concepts LLC purchased a new stake in shares of BlackBerry during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC bought a new stake in shares of BlackBerry during the 2nd quarter worth $32,000. Wealthfront Advisers LLC bought a new stake in shares of BlackBerry during the 1st quarter worth $34,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BlackBerry during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 3,379 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $28,248.44. Following the sale, the senior vice president directly owned 113,904 shares of the company’s stock, valued at $952,237.44. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip Kurtz sold 6,164 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.45, for a total transaction of $52,085.80. Following the transaction, the insider owned 73,109 shares of the company’s stock, valued at $617,771.05. This represents a 7.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 134,433 shares of company stock valued at $1,196,595. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BB shares. Canadian Imperial Bank of Commerce boosted their price target on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a report on Friday, June 26th. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a report on Friday, September 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price objective on shares of BlackBerry in a research report on Monday, September 21st. TD boosted their target price on shares of BlackBerry from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.86.

BlackBerry Stock Performance

Shares of BB opened at $8.71 on Friday. BlackBerry Limited has a 1 year low of $3.12 and a 1 year high of $13.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. The stock’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $7.95. The firm has a market cap of $5.12 billion, a PE ratio of 48.41 and a beta of 2.20.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The company had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities research analysts forecast that BlackBerry Limited will post 0.17 EPS for the current year.

BlackBerry Company Profile

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.