River Road Asset Management LLC Has $109.06 Million Stock Position in Cannae Holdings, Inc. (NYSE:CNNE)

River Road Asset Management LLC lowered its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,589,766 shares of the company’s stock after selling 50,882 shares during the quarter. Cannae comprises approximately 1.5% of River Road Asset Management LLC’s holdings, making the stock its 16th largest holding. River Road Asset Management LLC owned 7.91% of Cannae worth $109,056,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Newtyn Management LLC increased its position in shares of Cannae by 42.7% in the 3rd quarter. Newtyn Management LLC now owns 2,868,411 shares of the company’s stock valued at $53,467,000 after buying an additional 857,748 shares in the last quarter. Norges Bank bought a new position in Cannae during the 4th quarter worth about $17,062,000. Comerica Bank increased its holdings in Cannae by 38,345.3% during the 3rd quarter. Comerica Bank now owns 276,806 shares of the company’s stock worth $5,160,000 after purchasing an additional 276,086 shares in the last quarter. Man Group plc increased its holdings in Cannae by 93.9% during the 4th quarter. Man Group plc now owns 531,962 shares of the company’s stock worth $10,985,000 after purchasing an additional 257,553 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Cannae by 52.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 743,773 shares of the company’s stock worth $15,032,000 after purchasing an additional 256,769 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the transaction, the chief executive officer now owns 354,367 shares in the company, valued at $7,377,920.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard N. Massey sold 23,050 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $20.57, for a total transaction of $474,138.50. Following the completion of the sale, the chief executive officer now owns 404,367 shares in the company, valued at $8,317,829.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard N. Massey sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total value of $1,041,000.00. Following the sale, the chief executive officer now owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Cannae Stock Down 1.2 %

Shares of NYSE:CNNE traded down $0.23 during midday trading on Wednesday, reaching $19.43. The company had a trading volume of 656,013 shares, compared to its average volume of 772,466. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $21.46 and its 200 day moving average price is $19.77. The stock has a market cap of $1.41 billion, a PE ratio of -4.66 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.

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

Cannae 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.