Comerica Bank Has $2.18 Million Stock Position in Cannae Holdings, Inc. $CNNE

Comerica Bank boosted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 64.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,625 shares of the company’s stock after purchasing an additional 54,266 shares during the quarter. Comerica Bank’s holdings in Cannae were worth $2,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in Cannae in the 2nd quarter worth approximately $62,000. Kelleher Financial Advisors acquired a new stake in shares of Cannae in the third quarter worth $73,000. CWM LLC grew its stake in shares of Cannae by 25.0% in the third quarter. CWM LLC now owns 4,065 shares of the company’s stock worth $74,000 after acquiring an additional 812 shares during the last quarter. AlphaQuest LLC increased its position in Cannae by 62.0% during the third quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock worth $106,000 after acquiring an additional 2,212 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Cannae by 27.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock valued at $231,000 after purchasing an additional 2,716 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Stock Performance

CNNE opened at $13.68 on Wednesday. The stock’s 50 day simple moving average is $12.14 and its 200-day simple moving average is $14.62. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $604.97 million, a PE ratio of -1.53 and a beta of 1.18. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $21.96.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($1.55). The business had revenue of $103.30 million for the quarter, compared to analyst estimates of $102.70 million. Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.74) EPS. Sell-side analysts forecast that Cannae Holdings, Inc. will post -2.02 EPS for the current year.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, March 17th. Cannae’s dividend payout ratio is -6.73%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a report on Wednesday, April 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Cannae in a research report on Tuesday, April 21st. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Cannae in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cannae has an average rating of “Hold” and a consensus target price of $17.00.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.