Cannae Holdings Inc (CNNE) Stake Lifted by Raymond James & Associates
Raymond James & Associates lifted its holdings in shares of Cannae Holdings Inc (NYSE:CNNE) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 353,911 shares of the company’s stock after acquiring an additional 5,780 shares during the period. Raymond James & Associates’ holdings in Cannae were worth $6,565,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Cannae by 2.7% during the second quarter. BlackRock Inc. now owns 4,952,587 shares of the company’s stock worth $91,871,000 after purchasing an additional 129,176 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cannae by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,313,702 shares of the company’s stock worth $42,919,000 after buying an additional 275,125 shares in the last quarter. FMR LLC boosted its stake in Cannae by 74.6% in the second quarter. FMR LLC now owns 1,538,233 shares of the company’s stock worth $28,533,000 after buying an additional 657,480 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Cannae in the first quarter worth approximately $15,331,000. Finally, Northern Trust Corp boosted its stake in Cannae by 1.8% in the first quarter. Northern Trust Corp now owns 705,627 shares of the company’s stock worth $13,308,000 after buying an additional 12,491 shares in the last quarter. 79.13% of the stock is owned by institutional investors.
Several brokerages have issued reports on CNNE. Zacks Investment Research lowered Cannae from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. TheStreet raised Cannae from a “d+” rating to a “c-” rating in a research note on Thursday, September 6th. Finally, ValuEngine lowered Cannae from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th.
Shares of CNNE opened at $21.25 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Cannae Holdings Inc has a 1 year low of $16.16 and a 1 year high of $21.90.
Cannae (NYSE:CNNE) last issued its earnings results on Monday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.18). The firm had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $308.00 million. Cannae had a negative return on equity of 1.37% and a negative net margin of 2.53%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. sell-side analysts anticipate that Cannae Holdings Inc will post -0.31 EPS for the current fiscal year.
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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