Cannae (NYSE:CNNE) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, February 4th.
A number of other research firms have also recently commented on CNNE. Piper Jaffray Companies upgraded Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Friday, November 9th. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, October 23rd.
CNNE stock traded up $0.38 during trading on Monday, hitting $23.30. 243,512 shares of the company traded hands, compared to its average volume of 225,582. The stock has a market cap of $1.62 billion, a P/E ratio of 15.13 and a beta of 0.73. Cannae has a 1 year low of $15.87 and a 1 year high of $23.37. The company has a current ratio of 2.12, a quick ratio of 1.75 and a debt-to-equity ratio of 0.01.
In other news, Director Richard N. Massey purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $170,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CNNE. FMR LLC increased its position in shares of Cannae by 158.9% during the fourth quarter. FMR LLC now owns 2,936,463 shares of the company’s stock worth $50,273,000 after purchasing an additional 1,802,072 shares in the last quarter. Walthausen & Co. LLC acquired a new position in Cannae during the third quarter worth $10,049,000. Maltese Capital Management LLC acquired a new position in Cannae during the third quarter worth $9,979,000. Millennium Management LLC boosted its stake in Cannae by 3,308.5% during the fourth quarter. Millennium Management LLC now owns 345,216 shares of the company’s stock worth $5,910,000 after buying an additional 335,088 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Cannae by 13.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,621,528 shares of the company’s stock worth $54,921,000 after buying an additional 307,826 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc is based in Las Vegas, Nevada.
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