BlackBerry Ltd (BB) Stake Lessened by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in BlackBerry Ltd (NYSE:BB) by 21.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 81,519 shares of the company’s stock after selling 22,191 shares during the period. Janus Henderson Group PLC’s holdings in BlackBerry were worth $822,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley purchased a new position in BlackBerry in the 3rd quarter valued at $23,038,000. Mackenzie Financial Corp increased its stake in shares of BlackBerry by 51.9% in the 4th quarter. Mackenzie Financial Corp now owns 9,646,380 shares of the company’s stock worth $68,586,000 after acquiring an additional 3,295,576 shares during the last quarter. Gator Capital Management LLC acquired a new stake in shares of BlackBerry in the 4th quarter worth $256,000. Bank of Nova Scotia increased its stake in shares of BlackBerry by 13.6% in the 4th quarter. Bank of Nova Scotia now owns 1,907,314 shares of the company’s stock worth $13,603,000 after acquiring an additional 228,681 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of BlackBerry by 26.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,933 shares of the company’s stock worth $242,000 after acquiring an additional 7,155 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Shares of NYSE:BB opened at $8.25 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 2.54. The stock has a market cap of $4.63 billion, a P/E ratio of 63.46 and a beta of 1.99. BlackBerry Ltd has a 12-month low of $6.57 and a 12-month high of $12.55.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Friday, March 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $242.81 million. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. On average, sell-side analysts forecast that BlackBerry Ltd will post -0.01 EPS for the current year.

A number of analysts have issued reports on BB shares. TheStreet raised BlackBerry from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $10.00 target price on shares of BlackBerry in a research note on Friday, March 22nd. CIBC reaffirmed a “buy” rating and issued a $13.00 target price on shares of BlackBerry in a research note on Friday, March 29th. Raymond James set a $11.00 target price on BlackBerry and gave the stock a “market perform” rating in a research note on Monday, April 1st. Finally, TD Securities raised their target price on BlackBerry from $14.00 to $14.50 and gave the stock a “buy” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. BlackBerry currently has an average rating of “Hold” and an average target price of $10.61.

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BlackBerry Company 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: What is the balance sheet?

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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