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Insiders Active in Black Knight (BKI)

by | Oct 3, 2021

Black Knight (BKI) large open market buy on 9/28 from CEO Anthony Jabbour of 14,000 shares at $68.84, a more than $960K investment. Jabbour has bought more than $1M in stock already in 2021 including recently at $71.77. BKI has traded back to a big volume node from 2020 and early 2021 and down around 18% for the year. The $11.34B company trades 28X earnings, 8.3X sales, and 27.85X FCF. BKI provides integrated technology, data and analytics software that lenders and servicers utilize throughout the home ownership cycle. BKI has a lot of capabilities around defaults too and seriously delinquent loans which will become more relevant as the moratorium has been lifted on evictions. BKI has been expanding their originations business, Empower, including a $1.8B deal for Optimal Blue last year. Optimal Blue’s online marketplace connects originators and providers in the mortgage industry with each other. They did over $2T in transactions last year. Analysts have an average target for shares of $96.50 with a Street High $110. Raymond James upgrading to Outperform on 9/30 citing their 2022 earnings potential. They see the company well positioned to return to double-digit growth in 2022 due to the end of the federal foreclosure moratorium as well as cross-selling momentum. The analyst also believes the downside from lower mortgage origination activity is relatively modest. Hedge fund ownership rose 17% last quarter. Short interest is 1.66%.

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