Cannae’s (CNNE) Outperform Rating Reiterated at Royal Bank Of Canada

Cannae (NYSE:CNNE)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank Of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $16.00 price objective on the stock. Royal Bank Of Canada’s target price points to a potential upside of 7.24% from the stock’s current price.

Several other brokerages have also commented on CNNE. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Cannae in a research report on Thursday, April 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research note on Monday, July 6th. Two research 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’s stock. According to MarketBeat, Cannae currently has an average rating of “Hold” and an average target price of $16.50.

Cannae Price Performance

Shares of CNNE stock traded up $0.27 during midday trading on Tuesday, reaching $14.92. 221,779 shares of the company traded hands, compared to its average volume of 546,676. The firm’s 50 day simple moving average is $14.51 and its two-hundred day simple moving average is $13.55. The firm has a market cap of $655.58 million, a PE ratio of -1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 1.71. Cannae has a 1-year low of $10.46 and a 1-year high of $19.88.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $1.28. The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $99.65 million. Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%.

Institutional Investors Weigh In On Cannae

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Cannae by 147.0% during the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $29,000 after buying an additional 1,195 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cannae during the 2nd quarter worth $30,000. Essential Partners LLC grew its stake in shares of Cannae by 2,913.0% in the first quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock worth $32,000 after purchasing an additional 2,680 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Cannae in the first quarter worth $50,000. Finally, Quantbot Technologies LP acquired a new position in shares of Cannae during the second quarter valued at $62,000. 88.12% of the stock is owned by institutional investors and hedge funds.

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.