Cannae (CNNE) Sets New 52-Week High at $26.23

Cannae Holdings Inc (NYSE:CNNE) hit a new 52-week high on Monday . The stock traded as high as $26.23 and last traded at $26.12, with a volume of 854 shares traded. The stock had previously closed at $25.86.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Cannae from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. TheStreet raised Cannae from a “c” rating to a “b” rating in a research note on Friday, March 15th. Finally, ValuEngine cut Cannae from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th.

The company has a market cap of $1.87 billion, a P/E ratio of 37.97 and a beta of 0.80. The company has a quick ratio of 2.68, a current ratio of 2.82 and a debt-to-equity ratio of 0.04.

Cannae (NYSE:CNNE) last released its earnings results on Thursday, March 14th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.03. The firm had revenue of $317.20 million for the quarter, compared to analysts’ expectations of $321.10 million. Cannae had a return on equity of 4.15% and a net margin of 2.28%. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Cannae Holdings Inc will post 0.4 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Cannae during the fourth quarter valued at approximately $41,000. Parallel Advisors LLC purchased a new stake in shares of Cannae in the first quarter valued at approximately $71,000. PNC Financial Services Group Inc. boosted its holdings in shares of Cannae by 13.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,816 shares of the company’s stock valued at $133,000 after purchasing an additional 949 shares during the period. Athena Capital Advisors LLC purchased a new stake in shares of Cannae in the fourth quarter valued at approximately $151,000. Finally, Raymond James Trust N.A. boosted its holdings in shares of Cannae by 4.8% in the fourth quarter. Raymond James Trust N.A. now owns 12,507 shares of the company’s stock valued at $214,000 after purchasing an additional 568 shares during the period. 82.32% of the stock is currently owned by hedge funds and other institutional investors.

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Cannae Company Profile (NYSE:CNNE)

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc is based in Las Vegas, Nevada.

Further Reading: Trading based on a resistance level

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