Orion Portfolio Solutions LLC Boosts Holdings in BlackBerry Limited (NYSE:BB)

Orion Portfolio Solutions LLC boosted its holdings in shares of BlackBerry Limited (NYSE:BB) by 121.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,916 shares of the company’s stock after buying an additional 20,771 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in BlackBerry were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BB. EP Wealth Advisors LLC purchased a new position in shares of BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the period. Quantinno Capital Management LP purchased a new position in BlackBerry during the third quarter valued at $38,000. Werba Rubin Papier Wealth Management bought a new stake in BlackBerry during the second quarter valued at about $43,000. Finally, Viewpoint Capital Management LLC purchased a new stake in BlackBerry in the second quarter worth about $50,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. This represents a 33.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

BlackBerry Trading Up 23.8 %

Shares of BB stock opened at $3.69 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -14.76 and a beta of 1.43. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $3.89. The stock’s 50-day moving average price is $2.56 and its 200-day moving average price is $2.46.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same period in the prior year, the firm earned $0.01 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities research analysts predict that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BB. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.25 to $4.00 in a research report on Friday. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday. CIBC upped their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, BlackBerry has an average rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry 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.