Global Strategic Investment Solutions LLC Takes $76,000 Position in BlackBerry Limited (NYSE:BB)

Global Strategic Investment Solutions LLC purchased a new stake in BlackBerry Limited (NYSE:BB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 20,000 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC grew its holdings in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after purchasing an additional 93,651 shares in the last quarter. Milestone Asset Management LLC acquired a new position in shares of BlackBerry in the fourth quarter valued at approximately $557,000. Intact Investment Management Inc. grew its holdings in shares of BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of BlackBerry in the third quarter valued at approximately $1,285,000. Finally, Alberta Investment Management Corp grew its holdings in shares of BlackBerry by 60.5% in the fourth quarter. Alberta Investment Management Corp now owns 644,900 shares of the company’s stock valued at $2,448,000 after purchasing an additional 243,000 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group lifted their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

BlackBerry Trading Down 7.0 %

NYSE BB opened at $4.38 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24. The stock has a market capitalization of $2.61 billion, a PE ratio of -19.91 and a beta of 1.31. The firm has a 50 day moving average of $4.54 and a two-hundred day moving average of $3.21.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the prior year, the business posted $0.01 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts expect that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, CAO Jay P. Chai sold 24,425 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,221 shares of company stock worth $925,655. Corporate insiders own 0.34% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.