BlackBerry Limited (BBRY) Shares Sold by Kahn Brothers Group Inc. DE
Kahn Brothers Group Inc. DE reduced its position in shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,520,660 shares of the company’s stock after selling 5,600 shares during the period. BlackBerry Limited accounts for approximately 6.9% of Kahn Brothers Group Inc. DE’s portfolio, making the stock its 6th largest position. Kahn Brothers Group Inc. DE owned approximately 0.85% of BlackBerry Limited worth $45,161,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Beck Mack & Oliver LLC purchased a new stake in shares of BlackBerry Limited during the first quarter worth about $105,000. Creative Planning raised its stake in shares of BlackBerry Limited by 18.6% in the second quarter. Creative Planning now owns 12,122 shares of the company’s stock worth $121,000 after buying an additional 1,900 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of BlackBerry Limited during the second quarter worth about $123,000. American Asset Management Inc. purchased a new stake in shares of BlackBerry Limited during the second quarter worth about $123,000. Finally, Capital Investment Counsel Inc bought a new position in BlackBerry Limited during the first quarter valued at $126,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.
BlackBerry Limited (NASDAQ:BBRY) traded up 0.45% during mid-day trading on Friday, hitting $8.99. The stock had a trading volume of 3,514,502 shares. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 37.00 and a beta of 0.97. BlackBerry Limited has a 12 month low of $6.65 and a 12 month high of $11.74. The firm’s 50-day moving average is $9.42 and its 200 day moving average is $8.99.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its quarterly earnings data on Friday, June 23rd. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $244 million during the quarter, compared to analyst estimates of $262.80 million. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. BlackBerry Limited’s revenue for the quarter was down 42.5% compared to the same quarter last year. Equities analysts anticipate that BlackBerry Limited will post $0.04 EPS for the current fiscal year.
BlackBerry Limited announced that its board has approved a stock repurchase program on Friday, June 23rd that authorizes the company to repurchase 31,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Several research analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of BlackBerry Limited in a research report on Sunday, August 13th. BidaskClub lowered BlackBerry Limited from a “sell” rating to a “strong sell” rating in a research report on Wednesday. William Blair reaffirmed a “market perform” rating on shares of BlackBerry Limited in a research report on Tuesday, July 4th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $9.00 price target (up previously from $8.50) on shares of BlackBerry Limited in a research report on Monday, June 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $10.00 price target (up previously from $9.00) on shares of BlackBerry Limited in a research report on Monday, June 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.47.
About BlackBerry Limited
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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