Cannae’s (CNNE) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Cannae (NYSE:CNNE) in a research note issued to investors on Thursday morning,Benzinga reports. Stephens currently has a $17.00 target price on the stock.

CNNE has been the subject of several other research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Cannae in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.00.

Cannae Price Performance

Cannae stock opened at $13.09 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $606.60 million, a PE ratio of -1.47 and a beta of 1.09. Cannae has a 12 month low of $10.46 and a 12 month high of $21.96. The stock has a 50-day moving average price of $12.13 and a two-hundred day moving average price of $14.89.

Cannae (NYSE:CNNE) last posted its earnings results on Monday, February 23rd. The company reported ($1.93) EPS for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The firm had revenue of $103.30 million during the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. Cannae’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.74) earnings per share. Analysts expect that Cannae will post -2.02 EPS for the current year.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.6%. Cannae’s dividend payout ratio is presently -6.73%.

Institutional Investors Weigh In On Cannae

Several institutional investors and hedge funds have recently made changes to their positions in CNNE. Pacific Capital Partners Ltd acquired a new stake in Cannae during the third quarter worth approximately $1,419,000. Almitas Capital LLC grew its stake in Cannae by 73.4% during the third quarter. Almitas Capital LLC now owns 556,688 shares of the company’s stock worth $10,193,000 after purchasing an additional 235,702 shares during the period. Permanent Capital Management LP acquired a new stake in Cannae during the third quarter worth approximately $897,000. JPMorgan Chase & Co. grew its stake in Cannae by 83.8% during the third quarter. JPMorgan Chase & Co. now owns 289,963 shares of the company’s stock worth $5,309,000 after purchasing an additional 132,166 shares during the period. Finally, Private Management Group Inc. grew its stake in Cannae by 5.9% during the third quarter. Private Management Group Inc. now owns 1,679,660 shares of the company’s stock worth $30,755,000 after purchasing an additional 94,002 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.