Hood River Capital Management LLC Takes Position in BlackBerry Limited (NYSE:BB)

Hood River Capital Management LLC bought a new stake in shares of BlackBerry Limited (NYSE:BB) in the 4th quarter, HoldingsChannel reports. The fund bought 14,091,726 shares of the company’s stock, valued at approximately $53,267,000.

A number of other institutional investors have also modified their holdings of BB. Tower Research Capital LLC TRC boosted its position in BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after purchasing an additional 3,811 shares during the period. Masso Torrence Wealth Management Inc. bought a new position in BlackBerry in the 4th quarter worth about $38,000. Mindset Wealth Management LLC acquired a new stake in shares of BlackBerry in the fourth quarter valued at approximately $38,000. Quadrant Capital Group LLC raised its holdings in shares of BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after buying an additional 5,008 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in BlackBerry during the 4th quarter valued at $40,000. Institutional investors own 54.48% of the company’s stock.

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the sale, the senior vice president now directly owns 42,398 shares in the company, valued at $126,770.02. This represents a 41.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,641 shares of company stock worth $214,365. Insiders own 0.34% of the company’s stock.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $3.17 on Wednesday. The firm has a fifty day moving average of $4.19 and a two-hundred day moving average of $3.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 1.30. BlackBerry Limited has a 52 week low of $2.01 and a 52 week high of $6.24.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same period last year, the company earned $0.03 earnings per share. The firm’s revenue was down 7.3% compared to the same quarter last year. As a group, equities research analysts predict that BlackBerry Limited will post -0.03 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Canaccord Genuity Group lowered their price target on BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. CIBC cut their price objective on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a report on Thursday, April 3rd. Finally, Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BlackBerry presently has an average rating of “Hold” and an average target price of $4.12.

About BlackBerry

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.