Cannae (NYSE:CNNE) Trading Down 1.9% – Time to Sell?

Cannae Holdings, Inc. (NYSE:CNNE)’s share price fell 1.9% during trading on Monday . The company traded as low as $14.44 and last traded at $14.67. Approximately 383,238 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 466,699 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

CNNE has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cannae in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research report on Monday, July 6th. Finally, Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Cannae in a research note on Thursday, April 23rd. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

Cannae Stock Down 1.9%

The business has a 50-day simple moving average of $14.23 and a two-hundred day simple moving average of $13.67. The company has a market capitalization of $644.60 million, a price-to-earnings ratio of -1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71.

Cannae (NYSE:CNNE) last released its earnings results on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%. The company had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. During the same period in the previous year, the firm posted ($1.81) EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts predict that Cannae Holdings, Inc. will post -2.4 EPS for the current year.

Cannae Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Cannae’s dividend payout ratio (DPR) is -7.68%.

Hedge Funds Weigh In On Cannae

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 1,195 shares during the period. Essential Partners LLC increased its stake in shares of Cannae by 2,913.0% during the first quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock worth $32,000 after acquiring an additional 2,680 shares during the period. Parallel Advisors LLC acquired a new position in shares of Cannae during the first quarter worth about $50,000. Quantbot Technologies LP purchased a new position in Cannae during the second quarter worth about $62,000. Finally, Kelleher Financial Advisors purchased a new position in Cannae during the third quarter worth about $73,000. Hedge funds and other 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.