BlackBerry Ltd (BBRY) Disappoints Investors, But Did It Really?

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How have hedge funds been trading Blackberry (BBRY)?

According to hedge fund experts at Insider Monkey, Prem Watsa’s Fairfax Financial Holdings has the biggest position in BlackBerry Ltd (NASDAQ:BBRY), worth around $416.5 million, which comprises 29.3% of its total 13F portfolio. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke, and John Campbell, has the second biggest stake in BlackBerry, worth $56.3 million, which means 0.3% of its 13F portfolio is allocated to the stock. Jim Simons’ Renaissance Technologies, Kahn Brothers, and Nelson Obus’ Wynnefield Capital are some of the other notable hedge funds which are bullish on BlackBerry Ltd (NASDAQ:BBRY).

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BlackBerry Ltd (NASDAQ:BBRY) showed strong growth signs in software, though its mobile business is still tumbling. The company reported a quarterly loss which was slightly more than expectations. With insider sentiment neutral and hedge funds slightly bullish on the company, which is trading close to its 52-week low, we recommend a cautious buy of BlackBerry at this time, with the understanding that the turnaround is ongoing and will not occur overnight.

Disclosure: None

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