Private Management Group Inc. Makes New $16.64 Million Investment in Cannae Holdings, Inc. (NYSE:CNNE)

Private Management Group Inc. purchased a new stake in Cannae Holdings, Inc. (NYSE:CNNE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 838,010 shares of the company’s stock, valued at approximately $16,643,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in Cannae by 10.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock valued at $236,000 after buying an additional 1,150 shares in the last quarter. Crescent Grove Advisors LLC boosted its position in shares of Cannae by 0.4% in the third quarter. Crescent Grove Advisors LLC now owns 320,263 shares of the company’s stock valued at $6,104,000 after acquiring an additional 1,379 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Cannae by 9.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company’s stock valued at $384,000 after acquiring an additional 1,789 shares in the last quarter. SG Americas Securities LLC increased its holdings in Cannae by 9.9% during the 4th quarter. SG Americas Securities LLC now owns 20,102 shares of the company’s stock worth $399,000 after acquiring an additional 1,817 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in Cannae by 19.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company’s stock worth $245,000 after purchasing an additional 2,014 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cannae Price Performance

Shares of NYSE CNNE opened at $19.64 on Thursday. The stock’s 50-day simple moving average is $19.93 and its two-hundred day simple moving average is $19.69. Cannae Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $22.99. The firm has a market capitalization of $1.23 billion, a P/E ratio of -4.08 and a beta of 0.87. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $113.90 million for the quarter, compared to the consensus estimate of $105.67 million. During the same period last year, the firm posted ($2.18) earnings per share. Cannae’s quarterly revenue was down 20.7% on a year-over-year basis. As a group, equities analysts anticipate that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada boosted their price target on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th.

Cannae 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 was founded in 2014 and is based in Las Vegas, Nevada.