Capstone Investment Advisors LLC Buys Shares of 487,890 BlackBerry Limited (NYSE:BB)

Capstone Investment Advisors LLC purchased a new position in shares of BlackBerry Limited (NYSE:BB) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 487,890 shares of the company’s stock, valued at approximately $1,285,000.

A number of other hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new stake in BlackBerry in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry in the 2nd quarter worth about $43,000. Viewpoint Capital Management LLC bought a new position in BlackBerry in the second quarter valued at about $50,000. Finally, Signaturefd LLC grew its holdings in shares of BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares during the last quarter. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Performance

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 firm has a market capitalization of $1.54 billion, a P/E ratio of -10.44 and a beta of 1.42. The company has a fifty day moving average of $2.43 and a 200-day moving average of $2.47. BlackBerry Limited has a twelve month low of $2.01 and a twelve month high of $4.44.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $145.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. As a group, sell-side analysts anticipate that BlackBerry Limited will post -0.06 EPS for the current year.

Insider Buying and Selling at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This represents a 33.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th. Canaccord Genuity Group boosted their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.23.

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.