Zacks Investment Research lowered shares of Cannae (NYSE:CNNE) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Cannae Holdings, Inc. holds majority and minority equity investment stakes in a number of entities, including Ceridian Holdings, LLC, American Blue Ribbon Holdings, LLC and T-System Holding LLC. Cannae Holdings, Inc., formerly known as Fidelity National Financial Inc., is based in FL, United States. “
Separately, TheStreet raised shares of Cannae from a d+ rating to a c- rating in a research note on Thursday, September 6th.
Shares of CNNE opened at $17.94 on Tuesday. The company has a market cap of $1.28 billion, a PE ratio of 11.65 and a beta of 0.73. Cannae has a twelve month low of $16.16 and a twelve month high of $21.90. 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 (NYSE:CNNE) last issued its quarterly earnings results on Monday, August 13th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The business had revenue of $303.90 million for the quarter, compared to the consensus estimate of $308.00 million. Cannae had a negative return on equity of 1.37% and a negative net margin of 2.53%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Cannae will post -0.31 EPS for the current fiscal year.
In related news, Director Richard N. Massey acquired 39,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was bought at an average price of $18.70 per share, with a total value of $729,300.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Cannae by 2.7% in the 2nd quarter. BlackRock Inc. now owns 4,952,587 shares of the company’s stock valued at $91,871,000 after buying an additional 129,176 shares during the last quarter. River Road Asset Management LLC lifted its holdings in Cannae by 1.2% during the 3rd quarter. River Road Asset Management LLC now owns 2,792,467 shares of the company’s stock valued at $58,502,000 after purchasing an additional 34,048 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cannae by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,313,702 shares of the company’s stock valued at $42,919,000 after purchasing an additional 275,125 shares during the last quarter. FMR LLC lifted its holdings in Cannae by 74.6% during the 2nd quarter. FMR LLC now owns 1,538,233 shares of the company’s stock valued at $28,533,000 after purchasing an additional 657,480 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Cannae by 7.9% during the 2nd quarter. Northern Trust Corp now owns 761,132 shares of the company’s stock valued at $14,118,000 after purchasing an additional 55,505 shares during the last quarter. 78.69% of the stock is owned by institutional investors.
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.
Read More: Understanding the different types of bonds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cannae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cannae and related companies with MarketBeat.com's FREE daily email newsletter.