TheStreet Upgrades Cannae (NYSE:CNNE) to B-

TheStreet upgraded shares of Cannae (NYSE:CNNE) from a c rating to a b- rating in a research note published on Thursday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research upgraded Cannae from a sell rating to a hold rating in a research report on Tuesday, July 9th.

Cannae stock traded down $0.87 during mid-day trading on Thursday, reaching $30.01. 239,447 shares of the stock traded hands, compared to its average volume of 191,477. The firm has a market capitalization of $2.16 billion, a PE ratio of 43.49 and a beta of 0.83. The company has a quick ratio of 1.02, a current ratio of 1.18 and a debt-to-equity ratio of 0.44. Cannae has a 12-month low of $15.87 and a 12-month high of $32.03. The firm’s 50-day simple moving average is $28.82.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $281.25 million. Cannae had a return on equity of 4.65% and a net margin of 2.89%. Cannae’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Equities research analysts expect that Cannae will post 0.05 EPS for the current fiscal year.

In other news, Director Richard N. Massey acquired 20,000 shares of Cannae stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $25.15 per share, for a total transaction of $503,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Enterprise Trust & Investment Co purchased a new stake in Cannae in the second quarter worth about $29,000. Parallel Advisors LLC purchased a new stake in Cannae in the first quarter worth about $71,000. Bank of Montreal Can increased its position in Cannae by 1,123.1% in the second quarter. Bank of Montreal Can now owns 6,189 shares of the company’s stock worth $180,000 after buying an additional 5,683 shares in the last quarter. First Bank & Trust purchased a new stake in Cannae in the second quarter worth about $181,000. Finally, Aperio Group LLC purchased a new stake in Cannae in the second quarter worth about $198,000. Institutional investors and hedge funds own 82.16% of the company’s stock.

About Cannae

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 is based in Las Vegas, Nevada.

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