Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is BlackBerry Ltd (BBRY) A Good Stock To Buy?

As we already know from media reports and hedge fund investor letters, many hedge funds lost money in the third quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with healthcare among them. Nevertheless, most investors decided to stick to their bullish theses and their long-term focus allows us to profit from the recent declines. In particular, let’s take a look at what hedge funds think about BlackBerry Ltd (NASDAQ:BBRY) in this article.

BlackBerry Ltd (NASDAQ:BBRY) has seen a decrease in activity from the world’s largest hedge funds lately. BBRY was in 18 hedge funds’ portfolios at the end of September. There were 23 hedge funds in our database with BBRY holdings at the end of the previous quarter. At the end of this article we will also compare BBRY to other stocks, including LaSalle Hotel Properties (NYSE:LHO), Teledyne Technologies Incorporated (NYSE:TDY), and Aspen Technology, Inc. (NASDAQ:AZPN) to get a better sense of its popularity.

Follow Blackberry Ltd (NASDAQ:BBRY)
Trade (NASDAQ:BBRY) Now!

In the financial world there are a multitude of tools stock traders use to grade publicly traded companies. A pair of the most under-the-radar tools are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the best picks of the elite hedge fund managers can trounce their index-focused peers by a significant amount (see the details here).

With all of this in mind, let’s view the key action encompassing BlackBerry Ltd (NASDAQ:BBRY).

How have hedgies been trading BlackBerry Ltd (NASDAQ:BBRY)?

At Q3’s end, a total of 18 of the hedge funds tracked by Insider Monkey held long positions in this stock, down by 22% from the previous quarter. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Prem Watsa’s Fairfax Financial Holdings has the number one position in BlackBerry Ltd (NASDAQ:BBRY), worth close to $286.2 million, corresponding to 26.5% of its total 13F portfolio. The second most bullish fund manager is Jim Simons’ Renaissance Technologies, which holds a $75.2 million position; 0.2% of its 13F portfolio is allocated to the stock. Other professional money managers that hold long positions encompass Cliff Asness’s AQR Capital Management, D. E. Shaw’s D E Shaw and Nelson Obus’s Wynnefield Capital.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...