Lionstone Capital Management LLC lowered its stake in shares of Cannae Holdings Inc (NYSE:CNNE) by 52.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,484 shares of the company’s stock after selling 567,523 shares during the quarter. Cannae comprises 4.0% of Lionstone Capital Management LLC’s holdings, making the stock its 13th largest holding. Lionstone Capital Management LLC’s holdings in Cannae were worth $9,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Cannae by 7.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,458 shares of the company’s stock worth $838,000 after acquiring an additional 3,111 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Cannae by 6.3% in the first quarter. Guggenheim Capital LLC now owns 53,097 shares of the company’s stock worth $1,001,000 after acquiring an additional 3,163 shares in the last quarter. Strs Ohio boosted its holdings in Cannae by 9.7% in the second quarter. Strs Ohio now owns 44,100 shares of the company’s stock worth $818,000 after acquiring an additional 3,900 shares in the last quarter. Rhumbline Advisers boosted its holdings in Cannae by 6.9% in the second quarter. Rhumbline Advisers now owns 69,858 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,491 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Cannae by 34.6% in the first quarter. SG Americas Securities LLC now owns 19,132 shares of the company’s stock worth $361,000 after acquiring an additional 4,916 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors.
Cannae stock opened at $19.50 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.33. Cannae Holdings Inc has a 52 week low of $16.16 and a 52 week high of $21.34. The stock has a market cap of $1.40 billion, a P/E ratio of 12.66 and a beta of 0.59.
Cannae (NYSE:CNNE) last released its earnings results on Monday, August 13th. The company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.18). Cannae had a negative return on equity of 1.37% and a negative net margin of 2.53%. The firm had revenue of $303.90 million for the quarter, compared to analyst estimates of $308.00 million. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. equities analysts anticipate that Cannae Holdings Inc will post -0.32 EPS for the current fiscal year.
In other news, Director Richard N. Massey bought 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of $18.70 per share, with a total value of $729,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Cannae from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, May 10th. ValuEngine downgraded Cannae from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th.
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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