Prospect Capital Advisors LLC Takes $1.83 Million Position in BlackBerry Limited (NYSE:BB)

Prospect Capital Advisors LLC acquired a new position in shares of BlackBerry Limited (NYSE:BB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 484,100 shares of the company's stock, valued at approximately $1,830,000. BlackBerry makes up 1.1% of Prospect Capital Advisors LLC's investment portfolio, making the stock its 24th biggest holding. Prospect Capital Advisors LLC owned approximately 0.08% of BlackBerry as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after buying an additional 3,811 shares during the period. Invesco Ltd. lifted its stake in shares of BlackBerry by 3.8% in the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company's stock valued at $435,000 after purchasing an additional 4,226 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of BlackBerry by 6.6% in the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company's stock valued at $268,000 after purchasing an additional 4,375 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after purchasing an additional 5,008 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of BlackBerry by 2.4% in the 4th quarter. National Bank of Canada FI now owns 254,032 shares of the company's stock valued at $967,000 after purchasing an additional 5,870 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company's stock.

Insider Buying and Selling

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. This represents a 41.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 37,216 shares of company stock valued at $112,025. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BB. Canaccord Genuity Group reduced their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on BlackBerry in a research note on Thursday, April 3rd. CIBC reduced their price objective on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research note on Thursday, April 3rd. Finally, StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, BlackBerry presently has a consensus rating of "Hold" and a consensus target price of $4.12.

BlackBerry Stock Up 1.4%

BlackBerry stock traded up $0.06 during midday trading on Friday, hitting $3.95. 6,462,968 shares of the company were exchanged, compared to its average volume of 13,838,772. The company's fifty day moving average price is $3.64 and its 200-day moving average price is $3.72. The company has a market cap of $2.35 billion, a PE ratio of -17.93 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry's revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, research analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.