CI Investments Inc. Purchases 4,697 Shares of BlackBerry Limited (NYSE:BB)

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. raised its stake in BlackBerry Limited (NYSE:BB – Get Rating) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,277 shares of the company’s stock after buying an additional 4,697 shares during the quarter. CI Investments Inc.’s holdings in BlackBerry were worth $157,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in BlackBerry by 5.4% in the third quarter. Vanguard Group Inc. now owns 18,128,710 shares of the company’s stock valued at $85,205,000 after buying an additional 923,553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in BlackBerry by 488.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,048,843 shares of the company’s stock valued at $36,019,000 after buying an additional 9,171,561 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of BlackBerry by 175.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,700,900 shares of the company’s stock worth $26,832,000 after purchasing an additional 3,631,200 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of BlackBerry by 52.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,308,484 shares of the company’s stock worth $10,786,000 after purchasing an additional 1,145,342 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of BlackBerry by 138.0% in the first quarter. Bank of America Corp DE now owns 2,545,157 shares of the company’s stock worth $18,987,000 after purchasing an additional 1,475,870 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Marjorie Dickman sold 28,237 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $4.63, for a total value of $130,737.31. Following the transaction, the insider now directly owns 35,372 shares in the company, valued at $163,772.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BB. CIBC raised shares of BlackBerry from a “sector underperform” rating to a “neutral” rating and boosted their price objective for the stock from $4.20 to $6.50 in a research report on Thursday, May 18th. 3M reissued a “maintains” rating on shares of BlackBerry in a research report on Thursday, May 18th. Royal Bank of Canada boosted their price objective on shares of BlackBerry from $4.25 to $5.00 in a research report on Thursday, May 18th. StockNews.com began coverage on shares of BlackBerry in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, TD Securities raised shares of BlackBerry from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $3.75 to $4.00 in a research report on Friday, March 31st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.50.

BlackBerry Trading Down 0.9 %

Shares of BB opened at $5.23 on Thursday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -3.79 and a beta of 1.59. BlackBerry Limited has a 1-year low of $3.17 and a 1-year high of $7.20. The company’s fifty day simple moving average is $4.45 and its 200 day simple moving average is $4.19.

BlackBerry (NYSE:BB – Get Rating) last issued its earnings results on Friday, March 31st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. BlackBerry had a negative net margin of 111.89% and a negative return on equity of 10.91%. The business had revenue of $151.00 million for the quarter, compared to the consensus estimate of $150.97 million. During the same period in the previous year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. As a group, research analysts forecast that BlackBerry Limited will post -0.19 earnings per share for the current year.

BlackBerry Company Profile

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BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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