Cannae Holdings Inc (NYSE:CNNE) President Brent B. Bickett acquired 26,667 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $37.50 per share, for a total transaction of $1,000,012.50. Following the acquisition, the president now directly owns 417,716 shares of the company’s stock, valued at $15,664,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of CNNE opened at $38.26 on Friday. The stock’s 50-day moving average is $34.83 and its two-hundred day moving average is $35.77. The stock has a market cap of $2.95 billion, a PE ratio of 4.07 and a beta of 0.74. Cannae Holdings Inc has a 12 month low of $20.51 and a 12 month high of $44.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.23 and a quick ratio of 3.18.
Cannae (NYSE:CNNE) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $8.12. The company had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $243.20 million. Cannae had a return on equity of 49.88% and a net margin of 73.28%. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, research analysts anticipate that Cannae Holdings Inc will post 8.42 earnings per share for the current year.
Several research firms have recently issued reports on CNNE. ValuEngine upgraded Cannae from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, May 21st. Finally, Stephens lifted their target price on Cannae from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 14th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its position in shares of Cannae by 2.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 74,319 shares of the company’s stock worth $2,764,000 after acquiring an additional 2,078 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Cannae during the fourth quarter worth about $451,000. JPMorgan Chase & Co. increased its position in shares of Cannae by 412.1% during the first quarter. JPMorgan Chase & Co. now owns 135,076 shares of the company’s stock worth $4,524,000 after acquiring an additional 108,698 shares during the last quarter. Norges Bank bought a new stake in Cannae in the fourth quarter valued at about $33,340,000. Finally, Nuveen Asset Management LLC increased its holdings in Cannae by 10.8% in the first quarter. Nuveen Asset Management LLC now owns 568,877 shares of the company’s stock valued at $19,052,000 after buying an additional 55,616 shares during the last quarter. 82.84% of the stock is currently owned by institutional investors and hedge funds.
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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