Cannae Holdings, Inc. (NYSE:CNNE) Shares Acquired by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD raised its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,599 shares of the company’s stock after purchasing an additional 1,777 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Cannae were worth $597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Cannae in the third quarter worth $587,000. Bank of New York Mellon Corp grew its position in Cannae by 11.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,026,557 shares of the company’s stock valued at $19,135,000 after buying an additional 108,718 shares in the last quarter. Redmont Wealth Advisors LLC increased its stake in Cannae by 18.2% during the 3rd quarter. Redmont Wealth Advisors LLC now owns 24,966 shares of the company’s stock valued at $465,000 after buying an additional 3,849 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Cannae during the 3rd quarter worth about $187,000. Finally, Crescent Grove Advisors LLC lifted its position in Cannae by 0.4% in the third quarter. Crescent Grove Advisors LLC now owns 311,825 shares of the company’s stock worth $5,812,000 after purchasing an additional 1,238 shares during the period. Institutional investors own 88.12% of the company’s stock.

Insider Activity

In related news, CEO Richard N. Massey sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,367 shares in the company, valued at $7,377,920.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard N. Massey sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard N. Massey sold 30,000 shares of Cannae stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the completion of the transaction, the chief executive officer now directly owns 274,367 shares in the company, valued at $5,385,824.21. The disclosure for this sale can be found here. Insiders have sold 103,050 shares of company stock worth $2,104,039 over the last 90 days. 7.40% of the stock is owned by company insiders.

Cannae Price Performance

CNNE stock traded up $0.28 on Friday, hitting $20.09. 96,044 shares of the company’s stock traded hands, compared to its average volume of 739,367. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -4.77 and a beta of 0.89. Cannae Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $22.99. The stock has a fifty day moving average of $21.32 and a 200-day moving average of $19.82.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.17). The company had revenue of $119.30 million for the quarter, compared to analyst estimates of $133.50 million. Cannae had a negative net margin of 53.86% and a negative return on equity of 12.31%. On average, analysts forecast that Cannae Holdings, Inc. will post -0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their target price on Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th.

Cannae Company Profile

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 was founded in 2014 and is based in Las Vegas, Nevada.