Cannae (NYSE:CNNE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Cannae (NYSE:CNNE) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Cannae Holdings, Inc. holds majority and minority equity investment stakes in a number of entities, including Ceridian Holdings, LLC, American Blue Ribbon Holdings, LLC and T-System Holding LLC. Cannae Holdings, Inc., formerly known as Fidelity National Financial Inc., is based in FL, United States. “

Several other analysts have also commented on the stock. TheStreet lowered shares of Cannae from a b- rating to a c+ rating in a research report on Tuesday, September 17th. ValuEngine lowered shares of Cannae from a buy rating to a hold rating in a research report on Wednesday, October 2nd.

CNNE stock opened at $35.53 on Wednesday. The firm has a market cap of $2.53 billion, a PE ratio of 51.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.30. The firm’s 50 day moving average price is $28.81 and its 200-day moving average price is $28.06. Cannae has a one year low of $15.87 and a one year high of $36.00.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $1.18. The firm had revenue of $270.40 million for the quarter, compared to analyst estimates of $279.65 million. Cannae had a net margin of 10.27% and a return on equity of 11.22%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. Equities research analysts predict that Cannae will post 0.7 EPS for the current fiscal year.

In other news, CFO Richard L. Cox bought 3,699 shares of the business’s stock in a transaction on Friday, September 20th. The shares were bought at an average price of $27.05 per share, with a total value of $100,057.95. Also, Director Richard N. Massey bought 20,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of $28.49 per share, for a total transaction of $569,800.00. Following the transaction, the director now owns 203,899 shares of the company’s stock, valued at $5,809,082.51. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 33,699 shares of company stock worth $945,158. Corporate insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CNNE. Vanguard Group Inc. grew its stake in shares of Cannae by 3.2% in the second quarter. Vanguard Group Inc. now owns 6,134,554 shares of the company’s stock worth $177,779,000 after acquiring an additional 187,902 shares in the last quarter. River Road Asset Management LLC grew its stake in shares of Cannae by 8.7% in the third quarter. River Road Asset Management LLC now owns 3,142,528 shares of the company’s stock worth $86,325,000 after acquiring an additional 251,739 shares in the last quarter. Lomas Capital Management LLC grew its stake in shares of Cannae by 3.5% in the second quarter. Lomas Capital Management LLC now owns 965,821 shares of the company’s stock worth $27,989,000 after acquiring an additional 32,670 shares in the last quarter. Northern Trust Corp grew its stake in shares of Cannae by 2.3% in the second quarter. Northern Trust Corp now owns 822,452 shares of the company’s stock worth $23,836,000 after acquiring an additional 18,250 shares in the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of Cannae by 100.5% in the second quarter. Confluence Investment Management LLC now owns 616,167 shares of the company’s stock worth $17,857,000 after acquiring an additional 308,840 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

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 is based in Las Vegas, Nevada.

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