Sabal Capital Management Exits Position in BlackBerry Ltd (BBRY)

BlackBerry Ltd (BBRY) : Sabal Capital Management has sold out all of its stake in BlackBerry Ltd during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 120,085 shares of BlackBerry Ltd which is valued at $970,287.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in BBRY in the latest quarter, The investment management firm added 276,021 additional shares and now holds a total of 372,346 shares of BlackBerry Ltd which is valued at $3,008,556. BlackBerry Ltd makes up approx 0.01% of Citadel Advisors’s portfolio.Sigma Planning Corp reduced its stake in BBRY by selling 1,354 shares or 7.4% in the most recent quarter. The Hedge Fund company now holds 16,953 shares of BBRY which is valued at $116,637. BlackBerry Ltd makes up approx 0.01% of Sigma Planning Corp’s portfolio.

BlackBerry Ltd closed down -0.05 points or -0.63% at $7.92 with 20,91,119 shares getting traded on Monday. Post opening the session at $7.96, the shares hit an intraday low of $7.9 and an intraday high of $8.04 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Upgraded by Raymond James to ” Outperform” on Aug 12, 2016. Shares were Reiterated by RBC Capital Mkts on Jun 24, 2016 to “Sector Perform” and Lowered the Price Target to $ 7 from a previous price target of $8 .Shares were Reiterated by Imperial Capital on Jun 16, 2016 to “In-line” and Lowered the Price Target to $ 7 from a previous price target of $7.50 .

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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