First Eagle Investment Management LLC Purchases New Position in BlackBerry Ltd. (BBRY)
First Eagle Investment Management LLC bought a new stake in BlackBerry Ltd. (NASDAQ:BBRY) (TSE:BB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,054,431 shares of the smartphone producer’s stock, valued at approximately $8,414,000.
A number of other large investors have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of BlackBerry by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,596 shares of the smartphone producer’s stock worth $545,000 after buying an additional 1,959 shares in the last quarter. Greylin Investment Mangement Inc. raised its stake in BlackBerry by 137.9% in the second quarter. Greylin Investment Mangement Inc. now owns 86,300 shares of the smartphone producer’s stock valued at $579,000 after buying an additional 50,025 shares during the period. Bank of Montreal Can purchased a new stake in BlackBerry during the second quarter valued at $32,778,000. Capital Fund Management S.A. raised its stake in BlackBerry by 59.2% in the second quarter. Capital Fund Management S.A. now owns 241,875 shares of the smartphone producer’s stock valued at $1,623,000 after buying an additional 89,980 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in BlackBerry by 2.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 804,797 shares of the smartphone producer’s stock valued at $5,376,000 after buying an additional 16,940 shares during the period. Hedge funds and other institutional investors own 61.81% of the company’s stock.
Shares of BlackBerry Ltd. (NASDAQ:BBRY) traded up 2.96% during mid-day trading on Wednesday, hitting $7.66. The company had a trading volume of 4,267,485 shares. The firm’s market cap is $4.01 billion. BlackBerry Ltd. has a 12-month low of $6.23 and a 12-month high of $9.46. The firm’s 50 day moving average is $7.35 and its 200-day moving average is $7.34.
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Several analysts have recently issued reports on BBRY shares. Raymond James Financial Inc. upgraded BlackBerry from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $8.00 to $10.50 in a research report on Friday, August 12th. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Tuesday, August 23rd. JPMorgan Chase & Co. upped their price objective on BlackBerry from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 29th. TD Securities restated a “buy” rating and issued a $9.00 price objective on shares of BlackBerry in a research report on Monday, August 29th. Finally, Wells Fargo & Co. restated a “positive” rating and issued a $7.62 price objective on shares of BlackBerry in a research report on Tuesday, August 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.93.
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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