Cannae (NYSE:CNNE) posted its quarterly earnings results on Thursday. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.74, MarketWatch Earnings reports. Cannae had a negative net margin of 1.99% and a negative return on equity of 2.08%. The business had revenue of $317.20 million during the quarter, compared to analysts’ expectations of $321.10 million. The business’s revenue for the quarter was down .1% on a year-over-year basis.
Cannae stock opened at $23.42 on Friday. Cannae has a 1-year low of $15.87 and a 1-year high of $23.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.75. The company has a market capitalization of $1.65 billion, a PE ratio of 15.21 and a beta of 0.79.
Several analysts have recently weighed in on CNNE shares. Zacks Investment Research raised shares of Cannae from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, February 5th. ValuEngine cut shares of Cannae from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th.
Several institutional investors have recently bought and sold shares of CNNE. Meeder Asset Management Inc. purchased a new position in shares of Cannae during the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. boosted its position in shares of Cannae by 13.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,816 shares of the company’s stock worth $133,000 after purchasing an additional 949 shares during the period. Athena Capital Advisors LLC purchased a new position in shares of Cannae during the 4th quarter worth approximately $151,000. Raymond James Trust N.A. boosted its position in shares of Cannae by 4.8% during the 4th quarter. Raymond James Trust N.A. now owns 12,507 shares of the company’s stock worth $214,000 after purchasing an additional 568 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Cannae by 10.0% during the 4th quarter. SG Americas Securities LLC now owns 13,743 shares of the company’s stock worth $235,000 after purchasing an additional 1,246 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.
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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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