Cannae (NYSE:CNNE) Shares Gap Up – What’s Next?

Cannae Holdings, Inc. (NYSE:CNNE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $13.84, but opened at $14.83. Cannae shares last traded at $13.11, with a volume of 120,132 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNNE. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Cannae in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Cannae in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.00.

Cannae Stock Performance

The stock has a fifty day moving average of $12.27 and a 200-day moving average of $14.49. The firm has a market capitalization of $600.51 million, a P/E ratio of -1.52 and a beta of 1.18. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Cannae (NYSE:CNNE) last released its earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.30). Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The firm had revenue of $96.20 million during the quarter, compared to the consensus estimate of $99.77 million. During the same quarter in the previous year, the firm posted ($1.81) EPS. The company’s revenue was down 6.8% on a year-over-year basis. On average, research analysts anticipate that Cannae Holdings, Inc. will post -2.02 EPS for the current year.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Cannae’s payout ratio is currently -6.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in Cannae by 38.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,224 shares of the company’s stock worth $219,000 after buying an additional 5,385 shares in the last quarter. Commonwealth Financial Services LLC bought a new position in shares of Cannae in the 1st quarter valued at about $144,000. Parallel Advisors LLC acquired a new stake in shares of Cannae in the first quarter valued at about $50,000. Sanctuary Advisors LLC acquired a new stake in shares of Cannae in the first quarter valued at about $174,000. Finally, Fifth Third Bancorp bought a new stake in Cannae during the first quarter worth about $1,258,000. Institutional investors own 88.12% of the company’s stock.

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.