First Trust Advisors LP Acquires Shares of 351,176 Black Knight Inc (BKI)
First Trust Advisors LP acquired a new stake in Black Knight Inc (NYSE:BKI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 351,176 shares of the company’s stock, valued at approximately $18,805,000. First Trust Advisors LP owned 0.24% of Black Knight as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in BKI. Veritas Asset Management LLP acquired a new stake in Black Knight in the first quarter valued at about $129,355,000. Principal Financial Group Inc. lifted its position in Black Knight by 42.9% in the first quarter. Principal Financial Group Inc. now owns 5,347,093 shares of the company’s stock valued at $251,847,000 after purchasing an additional 1,605,148 shares during the period. Partners Group Holding AG acquired a new stake in Black Knight in the first quarter valued at about $52,809,000. Citadel Advisors LLC lifted its position in Black Knight by 693.8% in the first quarter. Citadel Advisors LLC now owns 976,197 shares of the company’s stock valued at $45,979,000 after purchasing an additional 853,216 shares during the period. Finally, Marble Arch Investments LP acquired a new stake in Black Knight in the first quarter valued at about $28,340,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.
In other news, Director Richard N. Massey sold 6,230 shares of Black Knight stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $52.51, for a total transaction of $327,137.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.40% of the stock is currently owned by company insiders.
Black Knight (NYSE:BKI) last posted its quarterly earnings results on Monday, July 30th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Black Knight had a net margin of 22.67% and a return on equity of 13.52%. The company had revenue of $276.60 million during the quarter, compared to the consensus estimate of $278.21 million. During the same period last year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. analysts forecast that Black Knight Inc will post 1.62 earnings per share for the current year.
A number of equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Black Knight from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Knight Equity restated a “buy” rating and issued a $59.00 price objective on shares of Black Knight in a research report on Wednesday, July 11th. Barclays raised their price objective on shares of Black Knight from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, July 31st. Piper Jaffray Companies lifted their price target on shares of Black Knight to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, June 19th. Finally, Wedbush lifted their price target on shares of Black Knight from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, June 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Black Knight has a consensus rating of “Buy” and a consensus price target of $55.45.
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.
Further Reading: Closed-End Mutual Funds
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