Marshall Wace LLP Acquires New Stake in BlackBerry Ltd (NYSE:BB)

Marshall Wace LLP acquired a new position in BlackBerry Ltd (NYSE:BB) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 138,851 shares of the company’s stock, valued at approximately $1,401,000.

Several other hedge funds have also recently added to or reduced their stakes in BB. Investors Research Corp acquired a new position in BlackBerry during the 1st quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in BlackBerry during the 1st quarter worth approximately $52,000. Ropes Wealth Advisors LLC boosted its position in BlackBerry by 1,950.0% during the 1st quarter. Ropes Wealth Advisors LLC now owns 5,125 shares of the company’s stock worth $52,000 after acquiring an additional 4,875 shares during the last quarter. Claraphi Advisory Network LLC acquired a new position in BlackBerry during the 4th quarter worth approximately $75,000. Finally, Zacks Investment Management acquired a new position in BlackBerry during the 4th quarter worth approximately $86,000. 50.61% of the stock is currently owned by institutional investors and hedge funds.

BB stock traded down $0.07 during midday trading on Thursday, hitting $7.03. The company’s stock had a trading volume of 5,038,913 shares, compared to its average volume of 4,260,280. The stock has a market cap of $3.87 billion, a PE ratio of 54.08 and a beta of 1.80. The company’s 50-day moving average is $7.85. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. BlackBerry Ltd has a 1 year low of $6.57 and a 1 year high of $12.00.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, June 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $264.55 million. BlackBerry had a return on equity of 1.84% and a net margin of 12.58%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. Research analysts expect that BlackBerry Ltd will post -0.06 earnings per share for the current year.

A number of brokerages have recently issued reports on BB. Morgan Stanley set a $23.00 price objective on Murphy Oil and gave the stock a “sell” rating in a research note on Friday, March 22nd. CIBC restated a “buy” rating and issued a $13.00 price target on shares of BlackBerry in a research note on Friday, March 29th. Raymond James dropped their target price on BlackBerry from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada restated an “average” rating and set a $48.00 price objective on shares of in a research report on Thursday, June 27th. Finally, Zacks Investment Research raised IMI PLC/S from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $10.25.

BlackBerry Profile

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

Further Reading: Quiet Period Expirations Explained

Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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