Bank of Nova Scotia boosted its holdings in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,320,717 shares of the company’s stock after acquiring an additional 39,770 shares during the period. Bank of Nova Scotia owned about 0.25% of BlackBerry Limited worth $13,201,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in BBRY. Contour Asset Management LLC acquired a new position in shares of BlackBerry Limited in the second quarter valued at approximately $34,244,000. FMR LLC raised its position in shares of BlackBerry Limited by 1,413.1% in the second quarter. FMR LLC now owns 3,469,494 shares of the company’s stock valued at $34,673,000 after buying an additional 3,240,200 shares during the last quarter. CI Investments Inc. acquired a new position in shares of BlackBerry Limited in the second quarter valued at approximately $30,309,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of BlackBerry Limited in the second quarter valued at approximately $18,807,000. Finally, Beck Mack & Oliver LLC raised its position in shares of BlackBerry Limited by 13,461.0% in the second quarter. Beck Mack & Oliver LLC now owns 1,844,300 shares of the company’s stock valued at $18,425,000 after buying an additional 1,830,700 shares during the last quarter. Institutional investors own 63.39% of the company’s stock.
Shares of BlackBerry Limited (NASDAQ BBRY) traded up 1.575% on Friday, hitting $11.671. 1,155,749 shares of the stock traded hands. The stock has a 50-day moving average price of $9.80 and a 200 day moving average price of $9.64. BlackBerry Limited has a 12-month low of $6.65 and a 12-month high of $11.74. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 12.069 and a beta of 1.00.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a net margin of 49.62% and a return on equity of 2.70%. The company had revenue of $238.00 million for the quarter, compared to analyst estimates of $221.21 million. The business’s quarterly revenue was down 32.4% on a year-over-year basis. On average, analysts anticipate that BlackBerry Limited will post $0.06 earnings per share for the current fiscal year.
BlackBerry Limited announced that its Board of Directors has initiated a stock repurchase program on Friday, June 23rd that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of research firms have recently weighed in on BBRY. Vetr lowered shares of BlackBerry Limited from a “strong-buy” rating to a “buy” rating and set a $10.20 price objective for the company. in a research report on Tuesday, September 26th. Zacks Investment Research lowered shares of BlackBerry Limited from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 5th. BMO Capital Markets reissued a “hold” rating and issued a $10.00 price objective on shares of BlackBerry Limited in a research report on Friday, September 29th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of BlackBerry Limited in a research report on Sunday, August 13th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $10.00 price objective on shares of BlackBerry Limited in a research report on Monday, October 2nd. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. BlackBerry Limited presently has a consensus rating of “Hold” and a consensus target price of $9.70.
BlackBerry Limited Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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