Kovack Advisors Inc. Sells 16,100 Shares of BlackBerry Limited (NYSE:BB)

Kovack Advisors Inc. decreased its holdings in shares of BlackBerry Limited (NYSE:BB) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,170 shares of the company’s stock after selling 16,100 shares during the period. Kovack Advisors Inc.’s holdings in BlackBerry were worth $1,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of BlackBerry by 31.3% during the third quarter. SG Americas Securities LLC now owns 89,360 shares of the company’s stock valued at $421,000 after buying an additional 21,324 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in BlackBerry in the third quarter worth approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in BlackBerry in the third quarter worth approximately $103,000. Maryland State Retirement & Pension System boosted its holdings in BlackBerry by 2.1% in the third quarter. Maryland State Retirement & Pension System now owns 430,295 shares of the company’s stock worth $2,038,000 after purchasing an additional 9,019 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BlackBerry by 13.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,025 shares of the company’s stock worth $509,000 after purchasing an additional 12,607 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BB. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a report on Thursday, April 4th. Robert W. Baird dropped their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. CIBC cut their price objective on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.08.

Insiders Place Their Bets

In other news, Director Philip G. Brace bought 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $2.79 per share, with a total value of $97,650.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $97,650. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.94% of the company’s stock.

BlackBerry Price Performance

BB stock traded up $0.05 during mid-day trading on Friday, hitting $2.83. The company had a trading volume of 2,955,074 shares, compared to its average volume of 8,757,254. The company has a 50-day moving average price of $2.79 and a 200 day moving average price of $3.25. BlackBerry Limited has a 12-month low of $2.46 and a 12-month high of $5.75. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -11.79 and a beta of 1.41.

BlackBerry (NYSE:BB) last posted its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) EPS. On average, research analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current year.

About BlackBerry

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.