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Should You Sell Black Knight (BKI)?

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Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund’s Institutional Class returned -10.08% compared to a -4.46% return for the Russell 3000 Index. The Fund’s Institutional Class returned -26.46% year to date compared to -24.62% for the Russell 3000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Weitz Investment discussed stocks like Black Knight, Inc. (NYSE:BKI) in the Q3 2022 investor letter. Headquartered in Jacksonville, Florida, Black Knight, Inc. (NYSE:BKI) is a financial services company. On October 31, 2022, Black Knight, Inc. (NYSE:BKI) stock closed at $60.47 per share. One-month return of Black Knight, Inc. (NYSE:BKI) was -7.51% and its shares lost 14.72% of their value over the last 52 weeks. Black Knight, Inc. (NYSE:BKI) has a market capitalization of $9.436 billion.

Here is what Weitz Investment specifically said about Black Knight, Inc. (NYSE:BKI) in its Q3 2022 investor letter:

“Portfolio activity was tilted toward sales during the quarter, most materially for Black Knight, Inc. (NYSE:BKI), CoStar Group and Dun & Bradstreet. Black Knight is awaiting regulatory approval for its sale to Intercontinental Exchange. Although the deal has put a “floor” under its stock price, we trimmed nearly half the position, hedging a potential risk that the deal is blocked.”

Creative Collage Of Business Team Working On Project And Stock Markets Data On Trasparent Screen, Financial Statistics Layered Over Man Using Laptop For Trading On Forex, Panorama

Black Knight, Inc. (NYSE:BKI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Black Knight, Inc. (NYSE:BKI) at the end of the second quarter which was 43 in the previous quarter.

We discussed Black Knight, Inc. (NYSE:BKI) in another article and shared the stock picks of David Rodriguez-Fraile’s BlueMar Capital at the end of the second quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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