Hollencrest Capital Management Sells 40,344 Shares of BlackBerry Limited (NYSE:BB)

Hollencrest Capital Management reduced its stake in BlackBerry Limited (NYSE:BB) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 499,559 shares of the company’s stock after selling 40,344 shares during the period. Hollencrest Capital Management owned approximately 0.08% of BlackBerry worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in BlackBerry by 28.4% in the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $90,000 after buying an additional 5,645 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of BlackBerry by 33.1% during the 4th quarter. BNP Paribas Financial Markets now owns 140,079 shares of the company’s stock valued at $496,000 after purchasing an additional 34,818 shares during the last quarter. Jump Financial LLC acquired a new position in BlackBerry during the 4th quarter worth approximately $362,000. Norges Bank acquired a new position in BlackBerry during the 4th quarter worth approximately $48,775,000. Finally, Oxford Asset Management LLP bought a new position in BlackBerry in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Price Performance

Shares of BB opened at $2.42 on Friday. The stock has a 50 day moving average of $2.36 and a 200 day moving average of $2.61. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. BlackBerry Limited has a 12 month low of $2.01 and a 12 month high of $5.23.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The business had revenue of $144.00 million during the quarter, compared to the consensus estimate of $132.05 million. During the same period last year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was down 61.4% on a year-over-year basis. As a group, analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Robert W. Baird cut their target price on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Canaccord Genuity Group decreased their price target on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday, June 27th. CIBC raised shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price objective on the stock in a research note on Thursday, June 27th. Finally, Raymond James decreased their price objective on BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.20.

Insider Activity

In other BlackBerry news, insider Mattias Eriksson sold 52,549 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $2.45, for a total value of $128,745.05. Following the completion of the sale, the insider now directly owns 214,440 shares of the company’s stock, valued at $525,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

BlackBerry Profile

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.