Newbrook Capital Issues Blackbaud Short

Robert Boucai’s Long / Short hedge fund has in its sights a new short, Blackbaud, Inc. (BLDB). Newbrook Capital has thesis in part based on the notion that, for the first time, a competitor with a much larger corporate footprint is entering the non-profit software market Blackbaud has long-dominated and they won’t be able to acquire the competition as in the past. Newbrook Capital: Blackbaud won’t be able to buy its way out of this problem There are numerous reasons why Boucai likes the short thesis in Blackbaud, but perhaps the most notable might be due to how the firm…