Cannae (NYSE:CNNE) Price Target Cut to $19.00 by Analysts at Royal Bank Of Canada

Cannae (NYSE:CNNE) had its target price reduced by stock analysts at Royal Bank Of Canada from $22.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 24.45% from the stock’s previous close.

CNNE has been the subject of a number of other reports. Zacks Research raised Cannae from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cannae presently has a consensus rating of “Hold” and an average price target of $20.50.

Cannae Stock Performance

CNNE traded down $0.21 during trading hours on Wednesday, reaching $15.27. The company’s stock had a trading volume of 42,802 shares, compared to its average volume of 648,929. Cannae has a 52 week low of $15.46 and a 52 week high of $22.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market cap of $762.89 million, a PE ratio of -1.98 and a beta of 1.11. The company’s 50-day moving average is $18.42 and its 200-day moving average is $19.15.

Cannae (NYSE:CNNE) last released its earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.94). Cannae had a negative net margin of 108.39% and a negative return on equity of 21.58%. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $104.80 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The business’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Cannae will post -3.14 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank R. Martire sold 26,478 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.90% of the stock is currently owned by company insiders.

Institutional Trading of Cannae

Institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new stake in shares of Cannae in the first quarter valued at $261,000. Trexquant Investment LP acquired a new position in Cannae during the first quarter worth approximately $795,000. Almitas Capital LLC purchased a new position in Cannae during the 1st quarter worth $2,633,000. Vanguard Group Inc. lifted its holdings in shares of Cannae by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,844,675 shares of the company’s stock worth $107,133,000 after purchasing an additional 205,785 shares during the period. Finally, EJF Capital LLC increased its position in Cannae by 39.7% during the 1st quarter. EJF Capital LLC now owns 228,789 shares of the company’s stock worth $4,194,000 after purchasing an additional 65,000 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.