Henry Ellenbogen was a star fund manager at US investment firm T. Rowe Price, with an annualized return of nearly 20 percent. With his own fund company, Durable Capital Partners, he also achieved 24 percent growth in the first year. No wonder that Ellenbogen has been represented at the renowned round table of the US stock market magazine “Barron’s” for several years. This year, he recommended the little-known Black Knight (NASDAQ: NYC) stock.
“There is hardly a company with such a sustainable business,” enthuses Ellenbogen. The company provides software and systems for the US residential real estate industry. The origin of the group is the financial information provider Fidelity National Financial. In 2014 he acquired the company Lender Procession Services, enriched it with his own activities and became Black Knight Financial Services renamed. In October 2017, the business was spun off under Black Knight. The “Black Knight” aims at the entire life cycle of property ownership, from market analysis to taking out a mortgage to refinancing and selling. For example, the Black Knight mortgage platform accounts for more than half of all outstanding real estate loans in the United States. The area accounts for around two thirds of the business and is growing steadily. Around 30 percent of the income comes from setting up new mortgages. The regulations here have become more and more demanding. That is why more and more industry representatives are using Black Knight’s services. Experts believe that the US residential real estate market will have some potential in the coming years. According to Ellenbogen, this should bring the technology company double-digit growth rates per year in earnings per share.
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