Cannae (NYSE:CNNE) Hits New 12-Month Low – Time to Sell?

Cannae Holdings, Inc. (NYSE:CNNE) shares hit a new 52-week low on Tuesday . The company traded as low as $15.12 and last traded at $15.1930, with a volume of 14463 shares trading hands. The stock had previously closed at $15.18.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNNE. Royal Bank Of Canada lowered their price objective on shares of Cannae from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Tuesday, October 14th. Finally, Zacks Research upgraded Cannae from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.50.

Cannae Stock Performance

The stock has a 50 day simple moving average of $18.18 and a 200 day simple moving average of $19.09. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. The company has a market cap of $746.84 million, a price-to-earnings ratio of -1.96 and a beta of 1.11.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.94). Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $104.80 million. During the same period last year, the business earned ($0.22) EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, December 17th. Cannae’s dividend payout ratio is presently -7.76%.

Insider Buying and Selling at Cannae

In other news, Director Frank R. Martire sold 26,478 shares of Cannae stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cannae

Hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its stake in shares of Cannae by 12.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 107,894 shares of the company’s stock worth $2,000,000 after buying an additional 12,018 shares during the last quarter. Verition Fund Management LLC grew its holdings in Cannae by 50.6% during the 3rd quarter. Verition Fund Management LLC now owns 345,236 shares of the company’s stock worth $6,321,000 after acquiring an additional 115,952 shares in the last quarter. Lombard Odier Asset Management USA Corp grew its holdings in Cannae by 14.5% during the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 76,956 shares of the company’s stock worth $1,409,000 after acquiring an additional 9,738 shares in the last quarter. Millennium Management LLC increased its position in shares of Cannae by 88.2% in the 3rd quarter. Millennium Management LLC now owns 164,707 shares of the company’s stock worth $3,016,000 after purchasing an additional 77,183 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Cannae by 70.8% in the 3rd quarter. Citadel Advisors LLC now owns 271,619 shares of the company’s stock valued at $4,973,000 after purchasing an additional 112,577 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

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