Mackenzie Financial Corp Buys 337,432 Shares of BlackBerry Limited (NYSE:BB)

Mackenzie Financial Corp increased its position in BlackBerry Limited (NYSE:BB) by 58.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 916,066 shares of the company’s stock after purchasing an additional 337,432 shares during the period. Mackenzie Financial Corp owned approximately 0.16% of BlackBerry worth $3,251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Optiver Holding B.V. bought a new stake in shares of BlackBerry in the 3rd quarter worth $25,000. GHP Investment Advisors Inc. purchased a new position in BlackBerry in the 3rd quarter worth about $28,000. Highlander Capital Management LLC lifted its stake in BlackBerry by 77.8% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after acquiring an additional 3,500 shares during the period. Clear Street Markets LLC purchased a new stake in shares of BlackBerry during the 3rd quarter valued at about $48,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of BlackBerry in the third quarter worth approximately $48,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Philip G. Brace bought 35,000 shares of the company’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 acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $97,650. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.94% of the company’s stock.

BlackBerry Stock Performance

NYSE:BB opened at $2.80 on Tuesday. The stock has a 50-day simple moving average of $2.79 and a two-hundred day simple moving average of $3.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. BlackBerry Limited has a 52-week low of $2.46 and a 52-week high of $5.75. The firm has a market capitalization of $1.65 billion, a PE ratio of -11.67 and a beta of 1.41.

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

Wall Street Analyst Weigh In

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

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.