Raymond James & Associates grew its position in Cannae Holdings Inc (NYSE:CNNE) by 17.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 663,934 shares of the company’s stock after purchasing an additional 100,328 shares during the quarter. Raymond James & Associates owned approximately 0.92% of Cannae worth $16,107,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Cannae in the 1st quarter worth about $4,278,000. California Public Employees Retirement System raised its position in Cannae by 25.9% in the 1st quarter. California Public Employees Retirement System now owns 192,167 shares of the company’s stock worth $4,662,000 after buying an additional 39,589 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Cannae by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 23,700 shares of the company’s stock worth $575,000 after buying an additional 1,000 shares during the last quarter. Parallel Advisors LLC purchased a new position in Cannae in the 1st quarter worth about $71,000. Finally, SG Americas Securities LLC raised its position in Cannae by 63.7% in the 1st quarter. SG Americas Securities LLC now owns 22,496 shares of the company’s stock worth $546,000 after buying an additional 8,753 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Cannae from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. TheStreet downgraded Cannae from a “b-” rating to a “c” rating in a research note on Friday, May 31st.
In other Cannae news, Director Richard N. Massey purchased 20,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $25.15 per share, for a total transaction of $503,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.
Shares of NYSE:CNNE traded up $0.48 during mid-day trading on Friday, reaching $28.71. 363,368 shares of the company traded hands, compared to its average volume of 227,199. The company has a market cap of $2.00 billion, a PE ratio of 41.61 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Cannae Holdings Inc has a 52 week low of $15.87 and a 52 week high of $29.12.
Cannae (NYSE:CNNE) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13). Cannae had a net margin of 2.89% and a return on equity of 4.65%. The company had revenue of $274.50 million for the quarter, compared to the consensus estimate of $296.85 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The company’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts predict that Cannae Holdings Inc will post 0.12 earnings per share for the current fiscal year.
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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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