Schonfeld Strategic Advisors LLC lessened its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 47.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,069 shares of the company’s stock after selling 46,814 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.06% of Cannae worth $2,024,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Cannae by 13.9% during the first quarter. BlackRock Inc. now owns 7,520,700 shares of the company’s stock worth $297,968,000 after buying an additional 917,020 shares during the last quarter. River Road Asset Management LLC lifted its holdings in shares of Cannae by 47.2% during the first quarter. River Road Asset Management LLC now owns 6,601,071 shares of the company’s stock worth $261,534,000 after purchasing an additional 2,115,284 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Cannae by 20.8% during the first quarter. DAVENPORT & Co LLC now owns 3,509,541 shares of the company’s stock worth $139,048,000 after purchasing an additional 603,405 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Cannae by 9.1% during the first quarter. Principal Financial Group Inc. now owns 1,860,439 shares of the company’s stock worth $73,710,000 after purchasing an additional 154,409 shares during the period. Finally, London Co. of Virginia lifted its holdings in shares of Cannae by 31.0% during the first quarter. London Co. of Virginia now owns 1,496,696 shares of the company’s stock worth $59,299,000 after purchasing an additional 354,413 shares during the period. 85.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Richard N. Massey purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 12th. The stock was purchased at an average cost of $35.96 per share, with a total value of $359,600.00. Following the completion of the purchase, the chief executive officer now owns 299,536 shares in the company, valued at approximately $10,771,314.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Bryan D. Coy purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, May 12th. The stock was bought at an average cost of $35.83 per share, with a total value of $35,830.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $71,660. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 12,000 shares of company stock worth $430,250. 5.60% of the stock is owned by company insiders.
Cannae (NYSE:CNNE) last released its earnings results on Monday, May 10th. The company reported ($2.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($2.40). The firm had revenue of $171.90 million during the quarter, compared to analyst estimates of $158.70 million. Cannae had a net margin of 154.88% and a return on equity of 10.73%. Cannae’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.17 EPS. Equities analysts anticipate that Cannae Holdings, Inc. will post -2.48 earnings per share for the current year.
A number of equities analysts have recently commented on CNNE shares. TheStreet lowered shares of Cannae from a “b” rating to a “c” rating in a report on Tuesday, June 1st. Zacks Investment Research lowered shares of Cannae from a “hold” rating to a “sell” rating in a report on Wednesday, July 7th.
Cannae Company Profile
Cannae Holdings, Inc engages in the management and operation of a group of companies and investments. It operates through the following segments: Dun & Bradstreet, Optimal Blue, Restaurant Group, and Corporate and Other. The Dun & Bradstreet segment offers business decision data and analytics. The Optimal Blue segment involves the secondary market solutions and actionable data services.
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