State of Tennessee Treasury Department Holds Holdings in BlackBerry Limited (BBRY)
State of Tennessee Treasury Department held its stake in BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,363 shares of the company’s stock at the end of the second quarter. State of Tennessee Treasury Department owned approximately 0.07% of BlackBerry Limited worth $3,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the stock. Creative Planning boosted its stake in BlackBerry Limited by 18.6% during the 2nd quarter. Creative Planning now owns 12,122 shares of the company’s stock valued at $121,000 after purchasing an additional 1,900 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new position in BlackBerry Limited during the 2nd quarter valued at $123,000. American Asset Management Inc. bought a new position in BlackBerry Limited during the 2nd quarter valued at $123,000. Capital Investment Counsel Inc bought a new position in BlackBerry Limited during the 1st quarter valued at $126,000. Finally, Nine Chapters Capital Management LLC bought a new position in BlackBerry Limited during the 1st quarter valued at $137,000. 63.36% of the stock is owned by institutional investors and hedge funds.
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Shares of BlackBerry Limited (NASDAQ BBRY) opened at 9.18 on Thursday. BlackBerry Limited has a 12 month low of $6.65 and a 12 month high of $11.74. The stock has a 50 day moving average price of $9.13 and a 200 day moving average price of $9.16. The firm has a market capitalization of $4.87 billion, a P/E ratio of 37.78 and a beta of 0.99.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its quarterly earnings results on Friday, June 23rd. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $262.80 million. BlackBerry Limited’s revenue for the quarter was down 42.5% compared to the same quarter last year. On average, analysts expect that BlackBerry Limited will post $0.04 earnings per share for the current year.
BlackBerry Limited declared that its board has authorized a stock repurchase program on Friday, June 23rd that permits the company to buyback 31,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have issued reports on the company. Wells Fargo & Company reaffirmed a “market perform” rating and set a $9.00 price target (up from $8.50) on shares of BlackBerry Limited in a research note on Monday, June 26th. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of BlackBerry Limited in a research note on Tuesday, May 30th. Vetr raised BlackBerry Limited from a “buy” rating to a “strong-buy” rating and set a $12.74 price target for the company in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of BlackBerry Limited in a research note on Sunday, August 13th. Finally, Scotiabank increased their price target on BlackBerry Limited from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. BlackBerry Limited currently has an average rating of “Hold” and an average target price of $9.56.
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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