Cannae (NYSE:CNNE) Releases Quarterly Earnings Results, Beats Estimates By $999.36 EPS

Cannae (NYSE:CNNE) released its quarterly earnings results on Monday. The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $999.36, Zacks reports. Cannae had a negative return on equity of 23.16% and a negative net margin of 108.39%.

Cannae Stock Performance

CNNE traded down $0.52 during midday trading on Monday, reaching $12.68. The company had a trading volume of 492,618 shares, compared to its average volume of 461,343. The business has a 50-day moving average of $15.15 and a two-hundred day moving average of $16.91. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. Cannae has a 1 year low of $12.65 and a 1 year high of $21.96. The company has a market cap of $624.77 million, a P/E ratio of -1.64 and a beta of 1.09.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNNE shares. Weiss Ratings reissued 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 $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.50.

Institutional Investors Weigh In On Cannae

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. lifted its holdings in Cannae by 0.5% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cannae by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after purchasing an additional 1,405 shares in the last quarter. Invesco Ltd. raised its position in shares of Cannae by 1.2% during the 3rd quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock valued at $3,312,000 after purchasing an additional 2,099 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Cannae by 27.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock valued at $231,000 after purchasing an additional 2,716 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Cannae during the 2nd quarter valued at $62,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

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.