Matlinpatterson Global Advisers Exits Position in BlackBerry Ltd (BBRY)

BlackBerry Ltd (BBRY) : Matlinpatterson Global Advisers has sold out all of its stake in BlackBerry Ltd during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 250,000 shares of BlackBerry Ltd which is valued at $1.6 Million.

Other Hedge Funds, Including , Susquehanna International Group Llp boosted its stake in BBRY in the latest quarter, The investment management firm added 780,543 additional shares and now holds a total of 2,739,840 shares of BlackBerry Ltd which is valued at $17.9 Million. BlackBerry Ltd makes up approx 0.06% of Susquehanna International Group Llp’s portfolio. Raymond James Associates added BBRY to its portfolio by purchasing 29,257 company shares during the most recent quarter which is valued at $191,048.Cibc Asset Management Inc reduced its stake in BBRY by selling 1,068 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 226,226 shares of BBRY which is valued at $1.5 Million. BlackBerry Ltd makes up approx 0.01% of Cibc Asset Management Inc’s portfolio. Ausdal Financial Partners sold out all of its stake in BBRY during the most recent quarter. The investment firm sold 5,546 shares of BBRY which is valued $37,103.Capital Fund Management S.a. boosted its stake in BBRY in the latest quarter, The investment management firm added 89,175 additional shares and now holds a total of 151,895 shares of BlackBerry Ltd which is valued at $1 Million. BlackBerry Ltd makes up approx 0.02% of Capital Fund Management S.a.’s portfolio.

BlackBerry Ltd opened for trading at $6.96 and hit $7.17 on the upside on Wednesday, eventually ending the session at $7.16, with a gain of 3.17% or 0.22 points. The heightened volatility saw the trading volume jump to 41,76,111 shares. Company has a market cap of $3,741 M.

On the company’s financial health, BlackBerry Ltd reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Dec 18, 2015. Analyst had a consensus of $-0.15. The company had revenue of $548.00 million for the quarter, compared to analysts expectations of $487.98 million. The company’s revenue was down -30.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.

Many Wall Street Analysts have commented on BlackBerry Ltd. BlackBerry Ltd was Initiated by Macquarie to “Underperform” on May 18, 2016. Shares were Reiterated by Imperial Capital on Apr 19, 2016 to “In-line” and Lowered the Price Target to $ 7.50 from a previous price target of $9 .Shares were Resumed by RBC Capital Mkts on Apr 4, 2016 to “Sector Perform” and Lowered the Price Target to $ 8 from a previous price target of $9 .

BlackBerry Limited (BlackBerry) is a provider of mobile communications and services. The Company is engaged primarily in the provision of the BlackBerry wireless solution consisting of smartphones service and software. The Company’s four areas of business are Devices business Enterprise Services BlackBerry Technology Solutions (BTS) business and Messaging. The Company’s Devices business is focused on delivering smartphone products. BlackBerry’s Enterprise Services business offers enterprise products and services. The Company’s BTS business consists of five units: QNX Software Systems Limited (QNX) Certicom Paratek the BlackBerry Internet of Things (IoT) Platform and Intellectual Property and Patent Licensing (IPPL). The Company’s Messaging business is engaged in providing BlackBerry Messenger (BBM) the Company’s instant mobile to mobile private messaging service. The Company offers a portfolio of smartphone products to both the enterprise and consumer markets.

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