Quadrant Capital Group LLC Raises Position in BlackBerry Limited (NYSE:BB)

Quadrant Capital Group LLC boosted its position in BlackBerry Limited (NYSE:BB) by 100.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,000 shares of the company’s stock after purchasing an additional 5,008 shares during the period. Quadrant Capital Group LLC’s holdings in BlackBerry were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BB. Russell Investments Group Ltd. lifted its holdings in BlackBerry by 95.8% during the fourth quarter. Russell Investments Group Ltd. now owns 954,397 shares of the company’s stock valued at $3,610,000 after purchasing an additional 466,972 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of BlackBerry by 24.4% in the fourth quarter. Wells Fargo & Company MN now owns 114,906 shares of the company’s stock valued at $434,000 after purchasing an additional 22,567 shares during the period. Geode Capital Management LLC lifted its stake in shares of BlackBerry by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 276,453 shares of the company’s stock valued at $1,061,000 after buying an additional 9,380 shares in the last quarter. National Bank of Canada FI boosted its holdings in BlackBerry by 2.4% in the 4th quarter. National Bank of Canada FI now owns 254,032 shares of the company’s stock worth $967,000 after buying an additional 5,870 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in BlackBerry in the 4th quarter valued at approximately $10,514,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Up 0.8 %

BB stock opened at $3.17 on Friday. The company’s 50 day moving average is $4.48 and its 200 day moving average is $3.53. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 1.30. 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 released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BB. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. 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. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research report on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.12.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares in the company, valued at $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Insiders sold 61,641 shares of company stock valued at $214,365 in the last 90 days. Insiders own 0.34% of the company’s stock.

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.