Cannae (NYSE:CNNE) Hits New 12-Month Low – What’s Next?

Cannae Holdings, Inc. (NYSE:CNNE)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $13.18 and last traded at $13.0850, with a volume of 33781 shares changing hands. The stock had previously closed at $13.29.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Cannae from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.50.

Cannae Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $15.22 and a 200 day simple moving average of $17.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNNE. Quantbot Technologies LP purchased a new stake in shares of Cannae during the second quarter valued at $62,000. CWM LLC raised its stake in Cannae by 40.4% in the 2nd quarter. CWM LLC now owns 3,253 shares of the company’s stock worth $68,000 after acquiring an additional 936 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in Cannae during the 3rd quarter worth about $73,000. Eurizon Capital SGR S.p.A. acquired a new stake in Cannae during the 4th quarter worth about $85,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in Cannae by 66.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock valued at $87,000 after purchasing an additional 1,669 shares during 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.