Virtu Financial LLC Buys 19,526 Shares of BlackBerry Ltd (BB)

Virtu Financial LLC boosted its stake in shares of BlackBerry Ltd (NYSE:BB) by 29.4% during the first quarter, HoldingsChannel.com reports. The fund owned 85,836 shares of the company’s stock after acquiring an additional 19,526 shares during the period. Virtu Financial LLC’s holdings in BlackBerry were worth $866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BB. Sound Income Strategies LLC acquired a new stake in shares of BlackBerry during the 4th quarter valued at $28,000. Csenge Advisory Group acquired a new position in BlackBerry during the 3rd quarter worth about $35,000. Gradient Investments LLC acquired a new position in BlackBerry during the 4th quarter worth about $36,000. Capital Investment Advisory Services LLC acquired a new position in BlackBerry during the 4th quarter worth about $43,000. Finally, Truvestments Capital LLC acquired a new position in BlackBerry during the 1st quarter worth about $52,000. Institutional investors own 52.71% of the company’s stock.

Several brokerages have commented on BB. BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 target price on shares of BlackBerry in a report on Friday, December 21st. Zacks Investment Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Canaccord Genuity dropped their price objective on BlackBerry from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, December 21st. CIBC downgraded BlackBerry to a “buy” rating in a research note on Sunday, December 30th. Finally, TheStreet downgraded BlackBerry from a “c-” rating to a “d+” rating in a research note on Friday, December 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.61.

Shares of NYSE:BB opened at $9.30 on Wednesday. The stock has a market capitalization of $5.04 billion, a PE ratio of 71.54 and a beta of 2.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.54 and a current ratio of 2.54. BlackBerry Ltd has a 1 year low of $6.57 and a 1 year high of $12.55.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Friday, March 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $257.00 million for the quarter, compared to the consensus estimate of $242.81 million. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. On average, equities research analysts forecast that BlackBerry Ltd will post -0.01 EPS for the current fiscal year.

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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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