Mackenzie Financial Corp buys 337,432 shares of BlackBerry Limited (NYSE:BB)

Mackenzie Financial Corp increased its position in BlackBerry Limited (NYSE:BB – Free Report) by 58.3% during the fourth quarter, the company said in its latest 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 about 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 BV bought a new stake in BlackBerry shares worth $25,000 in the third quarter. GHP Investment Advisors Inc. bought a new position in BlackBerry worth about $28,000 in the third quarter. Highlander Capital Management LLC increased its stake in BlackBerry by 77.8% in the fourth 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 bought a new stake in shares of BlackBerry in the third quarter worth approximately $48,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of BlackBerry in the 3rd quarter worth approximately $48,000. 54.48% of the shares are owned by hedge funds and other institutional investors.

Insider activity

In other news, Director Philip G. Brace purchased 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $2.79 per share, for a total value of $97,650.00. Following the acquisition, the director now owns 35,000 shares of the company, valued at approximately $97,650. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.94% of the company’s shares.

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 company has a market cap of $1.65 billion, a price-to-earnings ratio of -11.67 and a beta of 1.41.

BlackBerry (NYSE:BB – Get Free Report) last reported its quarterly earnings data on Wednesday, April 3. The company reported $0.03 earnings per share 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 last year, the company posted earnings per share ($0.04). The company’s revenue rose 14.6% year over year. Analysts predict that BlackBerry Limited will post -0.09 earnings per share for the current year.

Wall Street analysts weigh in

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

Read our latest stock analysis on BlackBerry

BlackBerry profile

(Free report)

BlackBerry Limited provides intelligent security software and services to enterprises and governments around the world. The company operates in 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-powered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for a secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.

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