Alberta Investment Management Corp bought a new stake in Black Knight Inc (NYSE:BKI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 79,100 shares of the company’s stock, valued at approximately $4,593,000. Alberta Investment Management Corp owned 0.05% of Black Knight as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC increased its stake in Black Knight by 7.5% in the fourth quarter. FMR LLC now owns 19,061,519 shares of the company’s stock valued at $1,229,088,000 after acquiring an additional 1,328,618 shares during the period. Principal Financial Group Inc. increased its stake in Black Knight by 7.6% in the fourth quarter. Principal Financial Group Inc. now owns 9,557,170 shares of the company’s stock valued at $616,246,000 after acquiring an additional 673,766 shares during the period. State Street Corp increased its stake in Black Knight by 81.4% in the fourth quarter. State Street Corp now owns 3,441,802 shares of the company’s stock valued at $221,927,000 after acquiring an additional 1,544,361 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Black Knight by 38.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,254,001 shares of the company’s stock valued at $209,818,000 after acquiring an additional 912,060 shares during the period. Finally, Third Point LLC increased its stake in Black Knight by 8.6% in the fourth quarter. Third Point LLC now owns 1,900,000 shares of the company’s stock valued at $122,512,000 after acquiring an additional 150,000 shares during the period. 90.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman William P. Foley II sold 250,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $53.57, for a total value of $13,392,500.00. Following the transaction, the chairman now directly owns 4,495,734 shares in the company, valued at $240,836,470.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman William P. Foley II sold 100,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $61.56, for a total transaction of $6,156,000.00. Following the completion of the transaction, the chairman now owns 4,395,734 shares in the company, valued at $270,601,385.04. The disclosure for this sale can be found here. Insiders have sold 380,700 shares of company stock worth $21,773,329 over the last quarter. 4.40% of the stock is owned by company insiders.
A number of research firms recently weighed in on BKI. Oppenheimer began coverage on shares of Black Knight in a research note on Tuesday, May 5th. They issued a “buy” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Black Knight from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. SunTrust Banks boosted their price target on shares of Black Knight from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. TheStreet upgraded shares of Black Knight from a “c+” rating to a “b+” rating in a research report on Tuesday, May 5th. Finally, Zacks Investment Research lowered shares of Black Knight from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $72.45.
Shares of BKI stock opened at $73.43 on Friday. Black Knight Inc has a 1 year low of $50.01 and a 1 year high of $76.44. The firm’s 50 day moving average is $67.83 and its 200-day moving average is $65.20. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 82.51, a PEG ratio of 3.06 and a beta of 0.84. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.81.
Black Knight (NYSE:BKI) last announced its earnings results on Tuesday, May 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Black Knight had a net margin of 11.16% and a return on equity of 13.80%. The company had revenue of $290.70 million for the quarter, compared to analyst estimates of $286.59 million. During the same period in the prior year, the business earned $0.44 earnings per share. Black Knight’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Black Knight Inc will post 1.63 earnings per share for the current fiscal year.
About Black Knight
Black Knight, Inc provides integrated software, data, and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals in the United States. Its Software Solutions segment offers software and hosting solutions comprises MSP, a software as a service application platform for mortgage and home equity loans that automates various areas of loan servicing; Bankruptcy / Foreclosure solutions for managing and automating a range of different workflow processes involving distressed and non-performing loans; Invoicing, a Web-based solution that helps servicers to save time and eliminate errors by automating billing and invoice process; and Empower, a loan origination system used by lenders to originate mortgages, home equity loans, and lines of credit.
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