Cannae Holdings Inc (CNNE) Position Cut by Vanguard Group Inc
Vanguard Group Inc lessened its holdings in shares of Cannae Holdings Inc (NYSE:CNNE) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,811,237 shares of the company’s stock after selling 30,527 shares during the quarter. Vanguard Group Inc owned about 8.09% of Cannae worth $121,745,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Legal & General Group Plc raised its stake in Cannae by 28.3% during the 3rd quarter. Legal & General Group Plc now owns 26,871 shares of the company’s stock valued at $563,000 after purchasing an additional 5,922 shares during the period. TIAA CREF Investment Management LLC raised its stake in Cannae by 9.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 272,915 shares of the company’s stock valued at $5,718,000 after purchasing an additional 24,497 shares during the period. Teachers Advisors LLC raised its stake in Cannae by 23.4% during the 3rd quarter. Teachers Advisors LLC now owns 255,468 shares of the company’s stock valued at $5,352,000 after purchasing an additional 48,513 shares during the period. Maltese Capital Management LLC bought a new stake in Cannae during the 3rd quarter valued at approximately $9,979,000. Finally, MetLife Investment Advisors LLC purchased a new position in Cannae during the 3rd quarter valued at approximately $1,001,000. 80.62% of the stock is currently owned by institutional investors.
CNNE has been the subject of several research analyst reports. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, October 23rd. Piper Jaffray Companies upgraded Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a report on Friday, November 9th.
Cannae (NYSE:CNNE) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $293.50 million during the quarter, compared to analysts’ expectations of $315.25 million. Cannae had a negative return on equity of 2.08% and a negative net margin of 1.99%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.24) EPS. As a group, research analysts forecast that Cannae Holdings Inc will post -0.36 EPS for the current fiscal year.
In related news, Director Richard N. Massey bought 10,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $170,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Massey bought 25,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was bought at an average price of $17.97 per share, with a total value of $449,250.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 45,000 shares of company stock valued at $792,950 in the last 90 days. 4.90% of the stock is currently owned by company insiders.
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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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