Hodges Capital Management Inc. Buys Shares of 20,000 BlackBerry Ltd (BB)

Hodges Capital Management Inc. bought a new stake in shares of BlackBerry Ltd (NYSE:BB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beck Mack & Oliver LLC acquired a new position in BlackBerry during the third quarter valued at $37,276,000. BlackRock Inc. acquired a new position in BlackBerry during the first quarter valued at $21,452,000. Hexavest Inc. acquired a new position in BlackBerry during the second quarter valued at $4,147,000. UBS Group AG acquired a new position in BlackBerry during the first quarter valued at $4,914,000. Finally, Dimensional Fund Advisors LP acquired a new position in BlackBerry during the first quarter valued at $4,129,000. 56.07% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BB opened at $9.25 on Thursday. BlackBerry Ltd has a twelve month low of $8.63 and a twelve month high of $14.55. The company has a market cap of $4.85 billion, a P/E ratio of 185.00 and a beta of 1.54. 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 (NYSE:BB) last announced its earnings results on Friday, September 28th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. BlackBerry had a positive return on equity of 0.61% and a negative net margin of 34.24%. The firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $209.41 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities research analysts forecast that BlackBerry Ltd will post -0.03 earnings per share for the current fiscal year.

Several research analysts have weighed in on the company. Raymond James upped their target price on BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a research report on Monday, October 1st. Zacks Investment Research raised BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 4th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $12.21.

About BlackBerry

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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