Cannae (NYSE:CNNE) Stock Rating Upgraded by Wall Street Zen

Cannae (NYSE:CNNE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also weighed in on CNNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a report on Monday, July 6th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Cannae in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of Cannae in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Cannae Stock Down 0.1%

NYSE CNNE opened at $14.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. Cannae has a fifty-two week low of $10.46 and a fifty-two week high of $19.88. The business has a 50 day moving average price of $14.55 and a two-hundred day moving average price of $13.53. The stock has a market cap of $633.68 million, a PE ratio of -4.84 and a beta of 1.20.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $1.28. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%. The company had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million.

Institutional Trading of Cannae

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Cannae by 147.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $29,000 after purchasing an additional 1,195 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Cannae by 0.5% in the second quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock valued at $5,574,000 after purchasing an additional 1,265 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock valued at $613,000 after buying an additional 1,405 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cannae during the second quarter valued at approximately $30,000. Finally, Invesco Ltd. boosted its position in shares of Cannae by 1.2% during the third quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock worth $3,312,000 after buying an additional 2,099 shares during the period. 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.