Cannae (NYSE:CNNE) Shares Gap Up – What’s Next?

Cannae Holdings, Inc. (NYSE:CNNE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $13.84, but opened at $14.83. Cannae shares last traded at $13.11, with a volume of 120,132 shares.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNNE. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Cannae in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Cannae Stock Performance

The firm has a market capitalization of $600.51 million, a price-to-earnings ratio of -1.52 and a beta of 1.18. The company has a fifty day moving average of $12.27 and a two-hundred day moving average of $14.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.07 and a current ratio of 2.07.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). The firm had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.81) earnings per share. As a group, equities research analysts predict that Cannae Holdings, Inc. will post -2.02 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. Cannae’s dividend payout ratio is -6.73%.

Institutional Trading of Cannae

A number of institutional investors have recently bought and sold shares of CNNE. CWM LLC raised its position in shares of Cannae by 25.0% in the third quarter. CWM LLC now owns 4,065 shares of the company’s stock valued at $74,000 after buying an additional 812 shares in the last quarter. Raymond James Financial Inc. grew its position in Cannae by 0.5% during the second quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock worth $5,574,000 after buying an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cannae by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after acquiring an additional 1,405 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Cannae by 2.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 84,085 shares of the company’s stock valued at $1,540,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Cannae by 1.2% in the 3rd quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock valued at $3,312,000 after acquiring an additional 2,099 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.