BlackRock Inc. lessened its position in shares of Cannae Holdings Inc (NYSE:CNNE) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,823,411 shares of the company’s stock after selling 116,996 shares during the quarter. BlackRock Inc. owned about 0.07% of Cannae worth $90,969,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. United Fire Group Inc. purchased a new position in Cannae during the 4th quarter worth approximately $126,000. Bank of New York Mellon Corp purchased a new position in Cannae during the 4th quarter worth approximately $41,554,000. Clearline Capital LP purchased a new position in Cannae during the 4th quarter worth approximately $3,759,000. Swiss National Bank purchased a new position in Cannae during the 4th quarter worth approximately $1,849,000. Finally, Sterling Capital Management LLC purchased a new position in Cannae during the 4th quarter worth approximately $4,378,000. Hedge funds and other institutional investors own 79.54% of the company’s stock.
In related news, Director Hugh R. Harris bought 15,000 shares of the stock in a transaction on Wednesday, May 23rd. The shares were bought at an average cost of $19.87 per share, for a total transaction of $298,050.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.
A number of research firms recently issued reports on CNNE. ValuEngine downgraded Cannae from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, May 10th.
Shares of Cannae opened at $18.55 on Friday, MarketBeat reports. Cannae Holdings Inc has a twelve month low of $16.16 and a twelve month high of $21.34. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.05 and a beta of 0.59. 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 (NYSE:CNNE) last announced its earnings results on Wednesday, May 9th. The company reported ($0.02) earnings per share for the quarter, beating 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 company had revenue of $294.00 million for the quarter, compared to the consensus estimate of $294.70 million. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. equities analysts expect that Cannae Holdings Inc will post -0.19 EPS for the current year.
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 is based in Las Vegas, Nevada.
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