BlackRock Inc. lowered its stake in Cannae Holdings Inc (NYSE:CNNE) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,823,411 shares of the company’s stock after selling 116,996 shares during the period. BlackRock Inc. owned about 6.83% of Cannae worth $90,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its position in Cannae by 7.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 44,458 shares of the company’s stock valued at $838,000 after purchasing an additional 3,111 shares in the last quarter. SG Americas Securities LLC raised its position in Cannae by 34.6% in the 1st quarter. SG Americas Securities LLC now owns 19,132 shares of the company’s stock valued at $361,000 after purchasing an additional 4,916 shares in the last quarter. Advisor Group Inc. acquired a new stake in Cannae in the 4th quarter valued at about $118,000. United Fire Group Inc. acquired a new stake in Cannae in the 4th quarter valued at about $126,000. Finally, Northern Trust Corp raised its position in Cannae by 1.8% in the 1st quarter. Northern Trust Corp now owns 705,627 shares of the company’s stock valued at $13,308,000 after purchasing an additional 12,491 shares in the last quarter. 79.54% of the stock is currently owned by institutional investors.
Shares of Cannae opened at $18.55 on Friday, according to MarketBeat Ratings. The company has a current ratio of 1.84, a quick ratio of 1.52 and a debt-to-equity ratio of 0.01. Cannae Holdings Inc has a fifty-two week low of $16.16 and a fifty-two week high of $21.34. The stock has a market cap of $1.30 billion, a PE ratio of 12.05 and a beta of 0.59.
Cannae (NYSE:CNNE) last issued its earnings results on Wednesday, May 9th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.08. Cannae had a return on equity of 3.00% and a net margin of 7.36%. The business had revenue of $294.00 million for the quarter, compared to analyst estimates of $294.70 million. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. equities analysts forecast that Cannae Holdings Inc will post -0.19 EPS for the current year.
In other Cannae news, Director Hugh R. Harris bought 15,000 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The shares were acquired at an average price of $19.87 per share, with a total value of $298,050.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.90% of the stock is currently owned by company insiders.
A number of research firms have issued reports on CNNE. ValuEngine lowered Cannae from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 16th. Zacks Investment Research raised Cannae from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, May 10th.
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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