Renaissance Technologies LLC boosted its position in shares of BlackBerry Ltd (NYSE:BB) by 43.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,099,087 shares of the company’s stock after buying an additional 1,860,044 shares during the period. Renaissance Technologies LLC’s holdings in BlackBerry were worth $45,499,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Water Island Capital LLC acquired a new stake in shares of BlackBerry in the second quarter valued at about $168,000. ARS Investment Partners LLC increased its holdings in shares of BlackBerry by 5,783.8% in the second quarter. ARS Investment Partners LLC now owns 1,217,950 shares of the company’s stock valued at $9,086,000 after purchasing an additional 1,197,250 shares during the last quarter. Bank of New York Mellon Corp lifted its position in BlackBerry by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 574,071 shares of the company’s stock worth $4,282,000 after buying an additional 16,608 shares in the last quarter. Capital Fund Management S.A. lifted its position in BlackBerry by 227.5% during the second quarter. Capital Fund Management S.A. now owns 63,601 shares of the company’s stock worth $474,000 after buying an additional 44,183 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in BlackBerry by 11.4% during the second quarter. LPL Financial LLC now owns 33,307 shares of the company’s stock worth $248,000 after buying an additional 3,398 shares during the last quarter. Institutional investors own 50.82% of the company’s stock.

BB stock traded up $0.30 during midday trading on Wednesday, hitting $7.45. 225,937 shares of the company’s stock were exchanged, compared to its average volume of 2,944,710. The business has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $8.17. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.83 billion, a PE ratio of 56.81 and a beta of 1.78. BlackBerry Ltd has a 1-year low of $6.57 and a 1-year high of $12.00.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $264.55 million. BlackBerry had a return on equity of 1.84% and a net margin of 12.58%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. As a group, research analysts expect that BlackBerry Ltd will post -0.03 EPS for the current fiscal year.

BB has been the subject of several analyst reports. Scotiabank set a $10.00 target price on BlackBerry and gave the company a “buy” rating in a report on Friday, August 23rd. Raymond James reduced their price target on BlackBerry from $11.00 to $10.50 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Macquarie set a $11.00 price target on shares of BlackBerry and gave the company a “hold” rating in a research report on Friday, August 30th. Royal Bank of Canada dropped their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, June 27th. Finally, Canaccord Genuity dropped their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.30.

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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