Cannae (NYSE:CNNE) Hits New 12-Month Low – Should You Sell?

Cannae Holdings, Inc. (NYSE:CNNE)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $14.87 and last traded at $14.86, with a volume of 22105 shares traded. The stock had previously closed at $15.15.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. Zacks Research raised Cannae from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada decreased their price objective on Cannae from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.50.

Cannae Price Performance

The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.05. The stock has a market cap of $732.10 million, a price-to-earnings ratio of -1.92 and a beta of 1.11. The company has a 50 day simple moving average of $16.00 and a 200-day simple moving average of $17.90.

Cannae (NYSE:CNNE) last released its earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.94). Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The company had revenue of $106.90 million during the quarter, compared to analyst estimates of $104.80 million. During the same period in the prior year, the firm posted ($0.22) EPS. Cannae’s revenue was down 6.1% compared to the same quarter last year. Research analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 17th. Cannae’s dividend payout ratio is currently -7.76%.

Institutional Investors Weigh In On Cannae

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of Cannae during the second quarter worth $62,000. CWM LLC boosted its stake in shares of Cannae by 40.4% in the 2nd quarter. CWM LLC now owns 3,253 shares of the company’s stock valued at $68,000 after purchasing an additional 936 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in Cannae during the 3rd quarter worth about $73,000. Nomura Asset Management Co. Ltd. grew its position in shares of Cannae by 66.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock worth $87,000 after buying an additional 1,669 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Cannae by 62.0% in the 3rd quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock valued at $106,000 after buying an additional 2,212 shares during the period. 88.12% of the stock is owned by institutional investors.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.