Cannae (NYSE:CNNE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Cannae (NYSE:CNNE) from a strong sell rating to a hold rating in a report published on Monday 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. “

Other equities research analysts have also recently issued reports about the company. Oppenheimer reaffirmed a buy rating and set a $52.00 price objective on shares of Cannae in a research report on Wednesday, March 3rd. TheStreet cut Cannae from a b rating to a c rating in a research report on Tuesday, June 1st.

Shares of NYSE:CNNE opened at $34.87 on Monday. Cannae has a 1-year low of $34.04 and a 1-year high of $46.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.50 and a quick ratio of 2.50. The firm’s fifty day moving average is $38.16. The company has a market capitalization of $3.20 billion, a P/E ratio of 3.30 and a beta of 0.66.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Monday, May 10th. The company reported ($2.55) EPS for the quarter, missing the consensus estimate of ($0.15) by ($2.40). Cannae had a net margin of 154.88% and a return on equity of 10.73%. The business had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $158.70 million. During the same period last year, the business earned $8.17 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts expect that Cannae will post -2.48 EPS for the current year.

In other news, CFO Bryan D. Coy bought 1,000 shares of the company’s stock in a transaction on Wednesday, June 9th. The shares were acquired at an average cost of $34.82 per share, with a total value of $34,820.00. Following the completion of the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at approximately $104,460. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard N. Massey bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 12th. The stock was purchased at an average cost of $35.96 per share, for a total transaction of $359,600.00. Following the completion of the transaction, the chief executive officer now directly owns 299,536 shares of the company’s stock, valued at approximately $10,771,314.56. The disclosure for this purchase can be found here. Insiders acquired 12,000 shares of company stock worth $430,250 over the last three months. Insiders own 5.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Cannae by 13.9% during the 1st quarter. BlackRock Inc. now owns 7,520,700 shares of the company’s stock valued at $297,968,000 after buying an additional 917,020 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of Cannae by 47.2% during the 1st quarter. River Road Asset Management LLC now owns 6,601,071 shares of the company’s stock valued at $261,534,000 after buying an additional 2,115,284 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Cannae by 20.8% during the 1st quarter. DAVENPORT & Co LLC now owns 3,509,541 shares of the company’s stock valued at $139,048,000 after buying an additional 603,405 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cannae by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,860,439 shares of the company’s stock valued at $73,710,000 after buying an additional 154,409 shares in the last quarter. Finally, London Co. of Virginia lifted its position in shares of Cannae by 31.0% during the 1st quarter. London Co. of Virginia now owns 1,496,696 shares of the company’s stock valued at $59,299,000 after buying an additional 354,413 shares in the last quarter. 85.30% of the stock is currently owned by institutional investors and hedge funds.

About Cannae

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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