Chartwell Investment Partners LLC Lowers Stock Holdings in BlackBerry Ltd (NYSE:BB)

Chartwell Investment Partners LLC reduced its stake in BlackBerry Ltd (NYSE:BB) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 128,203 shares of the company’s stock after selling 3,610 shares during the period. Chartwell Investment Partners LLC’s holdings in BlackBerry were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of BlackBerry by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 13,755,907 shares of the company’s stock valued at $102,619,000 after purchasing an additional 422,164 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of BlackBerry by 1,306.5% in the 2nd quarter. Invesco Ltd. now owns 11,969,830 shares of the company’s stock valued at $89,296,000 after buying an additional 11,118,807 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of BlackBerry by 43.9% in the 2nd quarter. Renaissance Technologies LLC now owns 6,099,087 shares of the company’s stock valued at $45,499,000 after buying an additional 1,860,044 shares during the period. Kahn Brothers Group Inc. DE lifted its holdings in shares of BlackBerry by 22.0% in the 2nd quarter. Kahn Brothers Group Inc. DE now owns 5,563,690 shares of the company’s stock valued at $41,505,000 after buying an additional 1,001,865 shares during the period. Finally, AXA lifted its holdings in shares of BlackBerry by 23.8% in the 2nd quarter. AXA now owns 4,916,590 shares of the company’s stock valued at $36,678,000 after buying an additional 944,746 shares during the period. Institutional investors own 50.09% of the company’s stock.

BB has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price target on BlackBerry from $9.00 to $7.50 and set a “sector perform” rating for the company in a report on Wednesday, September 25th. TD Securities reduced their price target on BlackBerry from $14.50 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Canaccord Genuity set a $7.00 price target on BlackBerry and gave the company a “hold” rating in a report on Tuesday, September 24th. Raymond James set a $9.50 price target on BlackBerry and gave the company a “market perform” rating in a report on Wednesday, September 25th. Finally, Bank of America reduced their price target on BlackBerry from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.55.

Shares of BB stock opened at $5.49 on Friday. The stock has a fifty day moving average price of $5.72 and a 200 day moving average price of $7.30. The stock has a market cap of $2.89 billion, a PE ratio of 105.20 and a beta of 1.74. BlackBerry Ltd has a 1 year low of $4.86 and a 1 year high of $10.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.28.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Tuesday, September 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $267.91 million. BlackBerry had a return on equity of 1.32% and a net margin of 3.19%. BlackBerry’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, equities research analysts predict that BlackBerry Ltd will post -0.05 earnings per share for the current year.

About BlackBerry

BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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Institutional Ownership by Quarter for BlackBerry (NYSE:BB)

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