MAI Capital Management Decreases Position in Black Knight Inc (BKI)
MAI Capital Management lowered its holdings in Black Knight Inc (NYSE:BKI) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,548 shares of the company’s stock after selling 1,059 shares during the period. MAI Capital Management’s holdings in Black Knight were worth $297,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BKI. FMR LLC increased its position in Black Knight by 17.1% during the second quarter. FMR LLC now owns 9,824,908 shares of the company’s stock worth $526,124,000 after buying an additional 1,437,898 shares during the last quarter. Victory Capital Management Inc. increased its position in Black Knight by 17.5% during the second quarter. Victory Capital Management Inc. now owns 6,816,241 shares of the company’s stock worth $365,009,000 after buying an additional 1,014,595 shares during the last quarter. BlackRock Inc. increased its position in Black Knight by 24.0% during the second quarter. BlackRock Inc. now owns 5,920,184 shares of the company’s stock worth $317,026,000 after buying an additional 1,145,140 shares during the last quarter. Principal Financial Group Inc. increased its position in Black Knight by 42.9% during the first quarter. Principal Financial Group Inc. now owns 5,347,093 shares of the company’s stock worth $251,847,000 after buying an additional 1,605,148 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of Black Knight in the second quarter valued at about $199,581,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
BKI stock traded up $0.18 during trading on Friday, hitting $47.55. The company had a trading volume of 757,852 shares, compared to its average volume of 767,857. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. Black Knight Inc has a 12 month low of $43.50 and a 12 month high of $56.45. The stock has a market capitalization of $7.76 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80.
In related news, insider William P. Foley II sold 977,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $51.68, for a total value of $50,491,360.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Massey sold 6,230 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $52.51, for a total transaction of $327,137.30. The disclosure for this sale can be found here. 14.40% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the company. Knight Equity reaffirmed a “buy” rating and issued a $59.00 price target on shares of Black Knight in a research report on Wednesday, July 11th. Piper Jaffray Companies lifted their target price on Black Knight to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 19th. Wedbush lifted their target price on Black Knight from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, June 18th. Zacks Investment Research downgraded Black Knight from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Barclays raised their price target on shares of Black Knight from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Black Knight has an average rating of “Buy” and a consensus target price of $57.44.
Black Knight Company Profile
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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