Cannae Holdings, Inc. (NYSE:CNNE) Stock Holdings Lifted by Parallel Advisors LLC


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Parallel Advisors LLC increased its position in Cannae Holdings, Inc. (NYSE:CNNE) by 30.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,135 shares of the company’s stock after purchasing an additional 1,207 shares during the period. Parallel Advisors LLC’s holdings in Cannae were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Cannae by 6.1% during the 4th quarter. BlackRock Inc. now owns 6,603,680 shares of the company’s stock worth $292,344,000 after purchasing an additional 381,456 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Cannae by 30.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,713,974 shares of the company’s stock worth $75,878,000 after buying an additional 401,987 shares during the last quarter. Norges Bank bought a new position in Cannae during the fourth quarter valued at approximately $40,604,000. Nuveen Asset Management LLC lifted its stake in Cannae by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 804,749 shares of the company’s stock valued at $35,626,000 after acquiring an additional 32,958 shares during the last quarter. Finally, Advisory Research Inc. grew its position in Cannae by 17.8% in the fourth quarter. Advisory Research Inc. now owns 412,720 shares of the company’s stock worth $18,271,000 after acquiring an additional 62,217 shares in the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

A number of brokerages recently issued reports on CNNE. Zacks Investment Research upgraded shares of Cannae from a “sell” rating to a “hold” rating in a report on Monday. Oppenheimer reissued a “buy” rating and set a $52.00 price objective on shares of Cannae in a report on Wednesday, March 3rd.

Shares of CNNE opened at $40.28 on Tuesday. The company has a quick ratio of 3.06, a current ratio of 3.10 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $40.34 and a two-hundred day moving average price of $40.66. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 2.55 and a beta of 0.72. Cannae Holdings, Inc. has a 12 month low of $29.49 and a 12 month high of $46.57.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Monday, February 22nd. The company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $5.89. Cannae had a return on equity of 52.16% and a net margin of 184.40%. The firm had revenue of $170.40 million during the quarter, compared to analyst estimates of $179.35 million. During the same period in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 38.8% compared to the same quarter last year. Equities research analysts expect that Cannae Holdings, Inc. will post 14.95 EPS for the current fiscal year.

In other Cannae news, CEO Richard N. Massey purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The stock was acquired at an average cost of $39.78 per share, with a total value of $397,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 289,536 shares of the company’s stock, valued at approximately $11,517,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bryan D. Coy purchased 1,000 shares of Cannae stock in a transaction that occurred on Friday, March 12th. The shares were bought at an average price of $39.10 per share, for a total transaction of $39,100.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at $39,100. The disclosure for this purchase can be found here. Company insiders own 6.80% of the company’s stock.

About Cannae

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.

See Also: Dividend Reinvestment Plan (DRIP)

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Institutional Ownership by Quarter for Cannae (NYSE:CNNE)

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