Cannae (NYSE:CNNE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cannae (NYSE:CNNE) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Cannae Holdings, Inc. holds majority and minority equity investment stakes in a number of entities, including Ceridian Holdings, LLC, American Blue Ribbon Holdings, LLC and T-System Holding LLC. Cannae Holdings, Inc., formerly known as Fidelity National Financial Inc., is based in FL, United States. “

Separately, TheStreet downgraded shares of Weibo from a b- rating to a c+ rating in a research note on Friday, May 31st.

Shares of CNNE traded up $0.01 on Tuesday, reaching $28.86. 12,239 shares of the company’s stock were exchanged, compared to its average volume of 231,158. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.18 and a quick ratio of 1.02. The stock has a market cap of $2.10 billion, a PE ratio of 41.83 and a beta of 0.83. The stock’s 50 day simple moving average is $27.88. Cannae has a 12 month low of $15.87 and a 12 month high of $30.38.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13). The business had revenue of $274.50 million for the quarter, compared to the consensus estimate of $296.85 million. Cannae had a return on equity of 4.65% and a net margin of 2.89%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. As a group, equities analysts forecast that Cannae will post 0.18 EPS for the current fiscal year.

In other news, Director Richard N. Massey bought 20,000 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average price of $25.15 per share, with a total value of $503,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.20% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Laurel Wealth Advisors Inc. increased its stake in Cannae by 20.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 23,339 shares of the company’s stock valued at $566,000 after purchasing an additional 4,031 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Cannae by 25.9% during the first quarter. California Public Employees Retirement System now owns 192,167 shares of the company’s stock worth $4,662,000 after acquiring an additional 39,589 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Cannae by 7.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 26,431 shares of the company’s stock worth $436,000 after acquiring an additional 1,923 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cannae by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,777,406 shares of the company’s stock worth $47,548,000 after acquiring an additional 155,878 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Cannae during the first quarter worth $4,278,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Cannae Company Profile

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.

Further Reading: Buy Rating

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