Cannae (NYSE:CNNE) issued its earnings results on Thursday. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $1.03, Morningstar.com reports. The firm had revenue of $317.20 million during the quarter, compared to analyst estimates of $321.10 million. Cannae had a negative net margin of 1.99% and a negative return on equity of 2.08%. The firm’s quarterly revenue was down .1% compared to the same quarter last year.
Shares of CNNE opened at $23.79 on Friday. The firm has a market cap of $1.65 billion, a PE ratio of 15.45 and a beta of 0.79. Cannae has a 12-month low of $15.87 and a 12-month high of $24.28. The company has a quick ratio of 1.75, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.
Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Trust N.A. boosted its stake in shares of Cannae by 4.8% during the fourth quarter. Raymond James Trust N.A. now owns 12,507 shares of the company’s stock valued at $214,000 after purchasing an additional 568 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Cannae by 13.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,816 shares of the company’s stock valued at $133,000 after purchasing an additional 949 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Cannae by 7.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 18,173 shares of the company’s stock valued at $311,000 after purchasing an additional 1,197 shares during the period. SG Americas Securities LLC boosted its stake in shares of Cannae by 10.0% during the fourth quarter. SG Americas Securities LLC now owns 13,743 shares of the company’s stock valued at $235,000 after purchasing an additional 1,246 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Cannae by 6.7% during the fourth quarter. Legal & General Group Plc now owns 28,673 shares of the company’s stock valued at $491,000 after purchasing an additional 1,802 shares during the period. 81.82% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cannae from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, February 5th. ValuEngine lowered shares of Cannae from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th.
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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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