Cannae (NYSE:CNNE) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Cannae (NYSE:CNNE) from a sell rating to a hold rating in a research report released on Saturday.

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

Cannae Stock Performance

NYSE:CNNE opened at $14.61 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.24. The stock has a market capitalization of $633.68 million, a P/E ratio of -4.84 and a beta of 1.20. The company has a 50 day moving average price of $14.55 and a 200 day moving average price of $13.54. Cannae has a fifty-two week low of $10.46 and a fifty-two week high of $19.88.

Cannae (NYSE:CNNE) last announced its earnings results 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. The company had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Cannae’s dividend payout ratio is -19.87%.

Institutional Trading of Cannae

Institutional investors have recently bought and sold shares of the business. Jupiter Topco LLC purchased a new position in shares of Cannae in the 2nd quarter valued at about $206,000. PDT Partners LLC purchased a new stake in Cannae during the second quarter worth approximately $1,646,000. Canada Pension Plan Investment Board purchased a new stake in Cannae during the second quarter worth approximately $203,000. Legal & General Group Plc acquired a new position in Cannae in the second quarter valued at approximately $1,460,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Cannae in the second quarter valued at approximately $164,000. 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.