Cannae (NYSE:CNNE) Given New $27.00 Price Target at Royal Bank of Canada

Cannae (NYSE:CNNE) had its target price upped by Royal Bank of Canada from $26.00 to $27.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Cannae Stock Performance

Cannae stock traded down $0.02 during mid-day trading on Thursday, hitting $20.41. 143,571 shares of the company were exchanged, compared to its average volume of 535,380. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 2.55. The business has a fifty day moving average of $19.34 and a 200 day moving average of $19.17. Cannae has a 1-year low of $16.94 and a 1-year high of $22.99.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The firm had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same period in the prior year, the company posted ($2.18) earnings per share. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities analysts predict that Cannae will post -3.03 EPS for the current fiscal year.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.35%. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

Institutional Trading of Cannae

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its stake in shares of Cannae by 1,616.0% in the second quarter. CWM LLC now owns 1,390 shares of the company’s stock valued at $25,000 after buying an additional 1,309 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock valued at $36,000 after acquiring an additional 535 shares during the last quarter. Innealta Capital LLC bought a new position in Cannae in the second quarter valued at about $48,000. Oakview Capital Management L.P. bought a new position in Cannae in the third quarter valued at about $67,000. Finally, nVerses Capital LLC bought a new position in Cannae in the second quarter valued at about $71,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.