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| | 11-28-2012, 11:07 AM Thread Author #1
[We are not alone] Yacktman Bets BlackBerry Can Survive Market-Share Plunge
Edit: 1 minute late; please go to original thread : Fund giant Yacktman doubles stake in RIM [article]
Read it in full here : Yacktman Bets BlackBerry Can Survive Market-Share Plunge - Businessweek
But if you're thirsty or lazy :
Donald Yacktman, whose $19 billion mutual-fund firm has outperformed peers by picking undervalued stocks, is leading a rush of investors betting Research In Motion Ltd. (RIM) and its BlackBerry smartphone can recover.
Yacktman Asset Management bought 12.2 million RIM shares last quarter, doubling the firm’s stake to about $252 million, according to data compiled by Bloomberg (RIMM
). Yacktman sees value in the BlackBerry’s 80 million users worldwide, its physical keyboard and the promise of a new operating system, even as the phone’s U.S. market share drops to less than 2 percent from 8.5 percent a year ago.
(+ as a reminder)
Sixteen analysts recommend selling RIM’s stock. Twenty- eight others have the equivalent of a hold rating, and six recommend buying the shares.
Yacktman’s firm increased its RIM stake to 4.5 percent by the end of last quarter, making it the fifth-largest shareholder, according to data compiled by Bloomberg.
Fairfax Financial Holdings Ltd. (FFH), founded by RIM board member Prem Watsa, is the biggest investor. RIM co-founders Mike Lazaridis and Jim Balsillie are second and third, followed by Primecap Management Co.