Cannae (NYSE:CNNE) Hits New 12-Month Low – Time to Sell?

Cannae Holdings, Inc. (NYSE:CNNE)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.73 and last traded at $13.7670, with a volume of 482446 shares changing hands. The stock had previously closed at $14.17.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a research report on Friday, January 9th. Royal Bank Of Canada dropped their target price on shares of Cannae from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Finally, Zacks Research raised shares of Cannae from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.50.

Cannae Trading Down 2.8%

The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $678.44 million, a P/E ratio of -1.78 and a beta of 1.09. The business has a fifty day moving average price of $15.69 and a 200 day moving average price of $17.35.

Cannae (NYSE:CNNE) last announced 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). The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $104.80 million. Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) EPS. On average, analysts expect that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Institutional Trading of Cannae

A number of institutional investors have recently made changes to their positions in CNNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after purchasing an additional 1,405 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cannae by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 299,843 shares of the company’s stock valued at $5,496,000 after acquiring an additional 11,788 shares in the last quarter. Jane Street Group LLC increased its position in shares of Cannae by 95.4% in the first quarter. Jane Street Group LLC now owns 54,393 shares of the company’s stock valued at $997,000 after acquiring an additional 26,550 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Cannae by 25.5% in the second quarter. KLP Kapitalforvaltning AS now owns 12,800 shares of the company’s stock valued at $267,000 after acquiring an additional 2,600 shares during the last quarter. Finally, CWM LLC raised its holdings in Cannae by 40.4% during the second quarter. CWM LLC now owns 3,253 shares of the company’s stock worth $68,000 after acquiring an additional 936 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Cannae Company Profile

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.