Cannae (NYSE:CNNE) Sets New 1-Year Low – Time to Sell?

Cannae Holdings, Inc. (NYSE:CNNE)’s share price reached a new 52-week low on Thursday . The stock traded as low as $11.20 and last traded at $11.0650, with a volume of 45078 shares traded. The stock had previously closed at $11.37.

Analyst Ratings Changes

Several equities research analysts recently commented on CNNE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Friday, January 9th. Royal Bank Of Canada lowered their price objective on shares of Cannae from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

Cannae Stock Performance

The stock has a market capitalization of $510.56 million, a PE ratio of -1.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a 50 day moving average of $13.71 and a 200-day moving average of $16.08.

Cannae (NYSE:CNNE) last released its earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The business had revenue of $103.30 million for the quarter, compared to analysts’ expectations of $102.70 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.74) EPS. Research analysts forecast that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.4%. Cannae’s payout ratio is presently -6.73%.

Institutional Investors Weigh In On Cannae

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNNE. Rubric Capital Management LP boosted its stake in shares of Cannae by 41.3% during the 2nd quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after buying an additional 615,616 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Cannae by 109.6% in the fourth quarter. State of Wisconsin Investment Board now owns 815,918 shares of the company’s stock worth $12,834,000 after acquiring an additional 426,736 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Cannae by 467.8% in the fourth quarter. Jane Street Group LLC now owns 468,356 shares of the company’s stock worth $7,367,000 after acquiring an additional 385,865 shares during the last quarter. Saba Capital Management L.P. raised its holdings in shares of Cannae by 23.3% during the fourth quarter. Saba Capital Management L.P. now owns 1,714,994 shares of the company’s stock worth $26,977,000 after acquiring an additional 323,531 shares in the last quarter. Finally, Almitas Capital LLC raised its holdings in shares of Cannae by 73.4% during the third quarter. Almitas Capital LLC now owns 556,688 shares of the company’s stock worth $10,193,000 after acquiring an additional 235,702 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Company Profile

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.