Based on its 13F filing, during the quarter, Kahn Brothers acquired 943, 149 shares of BlackBerry. The investment advisor currently owns a total of 3,302,677 shares of BlackBerry, which accounts 4.56% of its equity portfolio.
Kahn Brothers Advisors LLC, a wholly owned subsidiary of Kahn Brothers Group Inc., is a money manager and Registered Investment Advisor. Its principals manage approximately $1 billion of institutional and private funds. The firm provides money management and brokerage services through its affiliated broker-dealer, Kahn Brothers LLC, which is a member of the New York Stock Exchange. Its accounts are carried and cleared through Pershing LLC, an affiliate of the Bank of New York Mellon Corporation.
The Kahn Brothers Group, formerly Kahn Brothers & Company, Inc., was founded in 1978. The firm invests primarily in undervalued and often unpopular securities that present both a margin of safety and attractive prospects for capital appreciation.
BlackBerry stock price has increased by 9 percent in the last two days since the Morgan Stanley upgrade, from 7.25 a few days ago and appears to be settling at 8.00 today.
When even Morgan Stanley is looking at BlackBerry more optimistically, and notable investors are investing, it’s time to look past the gloom brought on by recent rumors.