Black Knight Inc (BKI) Shares Sold by MAI Capital Management
MAI Capital Management lessened its holdings in Black Knight Inc (NYSE:BKI) by 16.0% during the second quarter, HoldingsChannel reports. The firm owned 5,548 shares of the company’s stock after selling 1,059 shares during the quarter. MAI Capital Management’s holdings in Black Knight were worth $297,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of BKI. SG Americas Securities LLC bought a new position in shares of Black Knight in the 2nd quarter valued at $101,000. Denali Advisors LLC bought a new position in shares of Black Knight in the 2nd quarter valued at $193,000. AMP Capital Investors Ltd bought a new position in shares of Black Knight in the 2nd quarter valued at $203,000. Levin Capital Strategies L.P. bought a new position in shares of Black Knight in the 2nd quarter valued at $209,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Black Knight in the 2nd quarter valued at $220,000. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
BKI has been the subject of a number of research reports. Piper Jaffray Companies increased their price target on Black Knight to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, June 19th. Wedbush increased their price target on Black Knight from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, June 18th. Wells Fargo & Co increased their price target on Black Knight from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Knight Equity reiterated a “buy” rating and issued a $59.00 price target on shares of Black Knight in a research note on Wednesday, July 11th. Finally, Zacks Investment Research cut Black Knight from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.45.
Black Knight (NYSE:BKI) last announced its earnings results on Monday, July 30th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $276.60 million during the quarter, compared to analyst estimates of $278.21 million. Black Knight had a return on equity of 13.52% and a net margin of 22.67%. Black Knight’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. analysts expect that Black Knight Inc will post 1.61 earnings per share for the current fiscal year.
In related news, insider William P. Foley II sold 977,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $51.68, for a total transaction of $50,491,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Massey sold 6,230 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $52.51, for a total value of $327,137.30. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.
About Black Knight
Black Knight, Inc provides software, data, and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals primarily in the United States. It operates through two segments, Software Solutions, and Data and Analytics. The Software Solutions segment offers software and hosting solutions, including LoanSphere mortgage servicing platform, a software as a service application that automates loan servicing to the secondary mortgage market and investor reporting; and LoanSphere Bankruptcy and LoanSphere Foreclosure solutions, which are Web-based workflow information systems for managing and automating a range of workflow processes involving non-performing loans.
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