FifthDelta Ltd. has recently announced that it has increased stake in BlackBerry Limited (NYSE:BB) by 39.95%. After grabbing 31.72 million shares, the institutional investor is now in possession of 9.06 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.49% having worth around $147.82 million. Moreover, Voya Investment Management Co. LL increased its share by 21.79 million to have a control over 21.79 million shares. And Legal & General Investment Manage raised its holdings to 17.02 million shares by acquiring 18.86 million shares or 3.27% of the stake.
BlackBerry Limited (BB) concluded trading on 11/23/22 at a closing price of $4.81, with 3.72 million shares of worth about $17.9 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.61% during that period and on Wednesday the price saw a gain of about 3.44%. Currently the company’s common shares owned by public are about 577.31M shares, out of which, 568.17M shares are available for trading.
Legal & General UCITS ETF PLC – C, Allianz Global Investors Fund – A, and PRIMECAP Odyssey Aggressive Growt are the top 3 mutual funds which are holding stakes in BlackBerry Limited Legal & General UCITS ETF PLC – C is currently holding 20.37 million shares of worth totaling $94.94 million. The company recently came buying 0.0 shares which brought its stake up to 3.53% of the company’s outstanding shares. PRIMECAP Odyssey Aggressive Growt, after buying 10.86 million shares, have now control over 1.88% of the stake in the company. It holds 0.0 shares of worth $50.6 million.
BlackBerry Limited (NYSE: BB) started trading at $4.64, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 4.8785, or with a gain of 3.44%. Stock saw a price change of 0.42% in past 5 days and over the past one month there was a price change of 5.25%. Year-to-date (YTD), BB shares are showing a performance of -48.56% which decreased to -52.42% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.94 but also hit the highest price of $10.33 during that period. The average intraday trading volume for BlackBerry Limited shares is 6.10 million. The stock is currently trading 3.12% above its 20-day simple moving average (SMA20), while that difference is up 0.89% for SMA50 and it goes to -18.13% lower than SMA200.
FifthDelta Ltd. acquired 31.72 million shares of BlackBerry Limited having value of about $147.82 million. Data submitted at the U.S SEC by FifthDelta Ltd. revealed that the firm now holds 9.06 million shares in the company valued at close to $43554862.65, or have control over 39.95% stake in the company. BlackBerry Limited (NYSE: BB) currently have 577.31M outstanding shares and institutions hold larger chunk of about 56.60% of that. Holding of mutual funds in the company is about 19.21% while other institutional holders and individual stake holders have control over 25.49% and 1.56% of the stake respectively.
The stock has a current market capitalization of $2.75B and its 3Y-monthly beta is at 1.43. It has posted earnings per share of -$0.04 in the same period. It has Quick Ratio of 1.80 while making debt-to-equity ratio of 0.34. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BB, volatility over the week remained 4.05% while standing at 4.27% over the month.
Analysts are in expectations that BlackBerry Limited (BB) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is -$0.03 and it is -$0.03 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.1 which is -$0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 101.10% while it is estimated to increase by 10.50% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Robert W. Baird on August 12, 2022 offering a Neutral rating for the stock and assigned a target price of $7 to it. Coverage by RBC Capital Mkts stated BlackBerry Limited (BB) stock as a Sector perform in their note to investors on March 21, 2022, suggesting a price target of $7 for the stock. Stock get a Sector underperform rating from CIBC on June 25, 2021.