Cannae Holdings Inc. Reduces Position in System1, Inc. $SST

Cannae Holdings Inc. trimmed its position in System1, Inc. (NYSE:SST) by 90.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,701,279 shares of the company’s stock after selling 24,311,515 shares during the period. System1 makes up about 1.8% of Cannae Holdings Inc.’s portfolio, making the stock its 4th largest holding. Cannae Holdings Inc. owned 27.34% of System1 worth $14,938,000 at the end of the most recent reporting period.

Separately, Deutsche Bank AG boosted its stake in System1 by 383.2% during the fourth quarter. Deutsche Bank AG now owns 146,110 shares of the company’s stock valued at $131,000 after buying an additional 115,870 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SST has been the subject of several research reports. Benchmark raised their price objective on shares of System1 from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of System1 to a “hold” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, System1 currently has a consensus rating of “Buy” and an average target price of $10.00.

Insider Buying and Selling

In other news, major shareholder Cee Holdings Trust bought 12,584 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was purchased at an average price of $6.25 per share, with a total value of $78,650.00. Following the transaction, the insider directly owned 895,956 shares in the company, valued at approximately $5,599,725. The trade was a 1.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 30,166 shares of company stock valued at $200,783. Company insiders own 13.20% of the company’s stock.

System1 Price Performance

Shares of NYSE:SST opened at $8.37 on Thursday. The stock has a market capitalization of $82.98 million, a P/E ratio of -0.87 and a beta of 1.39. The business has a 50-day moving average of $6.88 and a two-hundred day moving average of $5.36. System1, Inc. has a fifty-two week low of $2.90 and a fifty-two week high of $15.00. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.18 and a quick ratio of 1.18.

System1 (NYSE:SST) last posted its earnings results on Thursday, August 7th. The company reported ($2.23) earnings per share for the quarter. The company had revenue of $78.11 million during the quarter. System1 had a negative return on equity of 92.07% and a negative net margin of 22.43%.

System1 Profile

System1, Inc provides omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform in the United States, the United Kingdom, Canada, the Netherlands, and internationally. It operates through two segments: Owned and Operated Advertising, and Partner Network.