Private Management Group Inc. Makes New $16.64 Million Investment in Cannae Holdings, Inc. (NYSE:CNNE)

Private Management Group Inc. bought a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 838,010 shares of the company’s stock, valued at approximately $16,643,000. Private Management Group Inc. owned approximately 1.34% of Cannae as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Cannae by 10.2% during the third quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock worth $236,000 after acquiring an additional 1,150 shares during the period. Crescent Grove Advisors LLC increased its position in shares of Cannae by 0.4% during the 3rd quarter. Crescent Grove Advisors LLC now owns 320,263 shares of the company’s stock valued at $6,104,000 after purchasing an additional 1,379 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Cannae by 9.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company’s stock worth $384,000 after purchasing an additional 1,789 shares during the period. SG Americas Securities LLC raised its stake in shares of Cannae by 9.9% during the 4th quarter. SG Americas Securities LLC now owns 20,102 shares of the company’s stock worth $399,000 after purchasing an additional 1,817 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Cannae by 19.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company’s stock worth $245,000 after buying an additional 2,014 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

Cannae Price Performance

Shares of NYSE CNNE opened at $19.64 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $19.93 and a two-hundred day simple moving average of $19.69. Cannae Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $22.99. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -4.08 and a beta of 0.87.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The company had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. During the same quarter in the prior year, the company earned ($2.18) EPS. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. Analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

About Cannae

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.