Cannae (NYSE:CNNE) Sets New 1-Year High at $27.70

Cannae Holdings Inc (NYSE:CNNE) reached a new 52-week high on Thursday . The company traded as high as $27.70 and last traded at $27.69, with a volume of 198300 shares changing hands. The stock had previously closed at $27.20.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Cannae from a “hold” rating to a “sell” rating in a report on Tuesday, May 28th. TheStreet downgraded Cannae from a “b-” rating to a “c” rating in a report on Friday, May 31st.

The company has a quick ratio of 1.02, a current ratio of 1.18 and a debt-to-equity ratio of 0.44. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 41.61 and a beta of 0.77.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The company had revenue of $274.50 million for the quarter, compared to analyst estimates of $296.85 million. Cannae had a net margin of 2.89% and a return on equity of 4.65%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts predict that Cannae Holdings Inc will post 0.12 EPS for the current fiscal year.

In related news, Director Richard N. Massey acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $25.15 per share, with a total value of $503,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Cannae by 158.9% in the 4th quarter. FMR LLC now owns 2,936,463 shares of the company’s stock worth $50,273,000 after acquiring an additional 1,802,072 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cannae by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,809,094 shares of the company’s stock worth $68,148,000 after acquiring an additional 31,688 shares in the last quarter. Ancora Advisors LLC boosted its holdings in shares of Cannae by 8.4% in the 4th quarter. Ancora Advisors LLC now owns 1,028,181 shares of the company’s stock worth $17,603,000 after acquiring an additional 79,727 shares in the last quarter. Norges Bank acquired a new position in shares of Cannae in the 4th quarter worth approximately $15,439,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Cannae by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 861,037 shares of the company’s stock worth $20,888,000 after acquiring an additional 87,980 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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About Cannae (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.

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