Cannae (NYSE:CNNE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cannae (NYSE:CNNE) from a sell rating to a hold rating in a research note released on Saturday morning.

CNNE has been the subject of several other reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Cannae in a research note on Tuesday, August 11th. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Cannae in a research note on Thursday, April 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.50.

Cannae Price Performance

Shares of Cannae stock opened at $14.90 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 1.24. Cannae has a one year low of $10.46 and a one year high of $19.88. The stock has a market capitalization of $646.21 million, a P/E ratio of -4.93 and a beta of 1.20. The business’s 50 day simple moving average is $14.57 and its two-hundred day simple moving average is $13.53.

Cannae (NYSE:CNNE) last issued its earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $1.28. The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $99.65 million. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 4.0%. Cannae’s dividend payout ratio is -19.87%.

Institutional Investors Weigh In On Cannae

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Cannae by 147.0% during the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $29,000 after buying an additional 1,195 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cannae in the second quarter worth about $30,000. Essential Partners LLC lifted its holdings in Cannae by 2,913.0% in the first quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock worth $32,000 after buying an additional 2,680 shares during the period. Allworth Financial LP bought a new stake in Cannae during the 2nd quarter valued at approximately $32,000. Finally, Parallel Advisors LLC bought a new stake in Cannae during the 1st quarter valued at approximately $50,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Company Profile

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.