Diversified Investment Strategies LLC Purchases Shares of 119,663 BlackBerry Ltd (BB)

Diversified Investment Strategies LLC purchased a new stake in BlackBerry Ltd (NYSE:BB) in the 3rd quarter, HoldingsChannel reports. The fund purchased 119,663 shares of the company’s stock, valued at approximately $1,362,000. BlackBerry accounts for about 1.2% of Diversified Investment Strategies LLC’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds have also added to or reduced their stakes in BB. Greenleaf Trust acquired a new position in BlackBerry in the 3rd quarter valued at $152,000. Terra Nova Asset Management LLC acquired a new position in BlackBerry in the 3rd quarter valued at $491,000. Intact Investment Management Inc. acquired a new position in BlackBerry in the 3rd quarter valued at $7,575,000. Hodges Capital Management Inc. acquired a new position in BlackBerry in the 3rd quarter valued at $228,000. Finally, Beck Mack & Oliver LLC acquired a new position in BlackBerry in the 3rd quarter valued at $37,276,000. Hedge funds and other institutional investors own 56.07% of the company’s stock.

BB has been the topic of several recent research reports. Raymond James boosted their price objective on shares of BlackBerry from $11.00 to $11.50 and gave the company a “market perform” rating in a research note on Monday, October 1st. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, October 4th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.21.

Shares of NYSE:BB traded up $0.11 on Tuesday, reaching $8.92. 229,475 shares of the company were exchanged, compared to its average volume of 5,141,849. The company has a quick ratio of 6.43, a current ratio of 6.43 and a debt-to-equity ratio of 0.30. BlackBerry Ltd has a 1-year low of $8.63 and a 1-year high of $14.55. The stock has a market cap of $4.82 billion, a PE ratio of 179.20 and a beta of 1.53.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Friday, September 28th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. BlackBerry had a negative net margin of 34.24% and a positive return on equity of 0.61%. The business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $209.41 million. During the same period in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was down 14.1% on a year-over-year basis. Equities analysts anticipate that BlackBerry Ltd will post -0.03 earnings per share for the current year.

BlackBerry Profile

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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