Scotia Capital Inc. Has $1.98 Million Stake in BlackBerry Limited (BBRY)
Scotia Capital Inc. grew its stake in BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,145 shares of the company’s stock after acquiring an additional 11,227 shares during the quarter. Scotia Capital Inc.’s holdings in BlackBerry Limited were worth $1,978,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Creative Planning increased its holdings in shares of BlackBerry Limited by 18.6% in the 2nd quarter. Creative Planning now owns 12,122 shares of the company’s stock valued at $121,000 after acquiring an additional 1,900 shares during the period. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of BlackBerry Limited in the 2nd quarter valued at $123,000. American Asset Management Inc. purchased a new position in shares of BlackBerry Limited in the 2nd quarter valued at $123,000. Private Advisor Group LLC purchased a new position in shares of BlackBerry Limited in the 2nd quarter valued at $138,000. Finally, QCM Cayman Ltd. purchased a new position in shares of BlackBerry Limited in the 2nd quarter valued at $154,000. Institutional investors and hedge funds own 63.39% of the company’s stock.
A number of brokerages have recently issued reports on BBRY. Vetr downgraded BlackBerry Limited from a “strong-buy” rating to a “buy” rating and set a $10.20 price target on the stock. in a report on Tuesday, September 26th. Zacks Investment Research downgraded BlackBerry Limited from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 5th. BMO Capital Markets reiterated a “hold” rating and issued a $10.00 price target on shares of BlackBerry Limited in a report on Friday, September 29th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of BlackBerry Limited in a report on Sunday, August 13th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $10.00 price target on shares of BlackBerry Limited in a report on Monday, October 2nd. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. BlackBerry Limited presently has a consensus rating of “Hold” and a consensus target price of $9.70.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a return on equity of 2.70% and a net margin of 49.62%. The firm had revenue of $238.00 million for the quarter, compared to analyst estimates of $221.21 million. The company’s quarterly revenue was down 32.4% on a year-over-year basis.
BlackBerry Limited announced that its Board of Directors has approved a share buyback plan on Friday, June 23rd that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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