Hamblin Watsa Investment Counsel recently announced the acquisition of new stake in BlackBerry Ltd (NYSE:BB). The institutional investor has increased its shareholding in the Technology company by 53.78% to 71.85 million shares with purchase of 25.13 million shares. This fresh investment now brings its stake to 12.28% valued currently at $254.36 million. In addition, First Trust Advisors LP raised its holdings by 13.93 million to 33.8 million shares. And The Vanguard Group, Inc. has lifted its position by 2.71% or 0.36 million shares – to 13.77 million shares.
Currently, there are 582.16M common shares owned by the public and among those 575.14M shares have been available to trade.
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Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 2,322,813 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 1,222,103 shares.
The top 3 mutual fund holders in BlackBerry Ltd are First Trust NASDAQ Cybersecurity, Legal & General UCITS ETF PLC – C, and Government Pension Fund – Global. First Trust NASDAQ Cybersecurity owns 26.6 million shares of the company’s stock, all valued at over $94.16 million. The company sold 24148.0 shares recently to bring their total holdings to about 4.54% of the shares outstanding. Legal & General UCITS ETF PLC – C sold 64800.0 shares to see its total holdings shrink to 22.52 million shares valued at over $79.72 million and representing 3.85% of the shares outstanding. Government Pension Fund – Global bought 8.52 million shares to bring its total holdings to over 11.79 million shares at a value of $41.72 million. Government Pension Fund – Global now owns shares totaling to 2.01% of the shares outstanding.
However, the script later moved the day high at 3.6100, up 4.96%. The company’s stock has a 5-day price change of 5.88% and 4.65% over the past three months. BB shares are trading 1.69% year to date (YTD), with the 12-month market performance down to -12.62% lower. It has a 12-month low price of $3.19 and touched a high of $5.75 over the same period. BB has an average intraday trading volume of 5.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.17%, -2.57%, and -18.68% respectively.
Institutional ownership of BlackBerry Ltd (NYSE: BB) shares accounts for 55.73% of the company’s 582.16M shares outstanding. Mutual fund holders own 23.93%, while other institutional holders and individual stakeholders account for 32.82% and 1.82% respectively.
It has a market capitalization of $2.11B and a beta (3y monthly) value of 1.44. The earnings-per-share (ttm) stands at -$0.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.21% over the week and 3.71% over the month.
Analysts forecast that BlackBerry Ltd (BB) will achieve an EPS of -$0.03 for the current quarter, -$0.02 for the next quarter and -$0.03 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 93.65%, and -474.98% over the next financial year.
Looking at the support for the BB, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on December 21, 2023, with the firm’s price target at $4.50-$4.
