UBS Asset Management Americas Inc. increased its position in shares of Cannae Holdings Inc (NYSE:CNNE) by 20.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,950 shares of the company’s stock after acquiring an additional 10,509 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.09% of Cannae worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cannae by 3.2% in the second quarter. Vanguard Group Inc. now owns 6,134,554 shares of the company’s stock valued at $177,779,000 after buying an additional 187,902 shares during the last quarter. Lomas Capital Management LLC increased its stake in Cannae by 3.5% during the second quarter. Lomas Capital Management LLC now owns 965,821 shares of the company’s stock worth $27,989,000 after purchasing an additional 32,670 shares during the period. Northern Trust Corp increased its stake in Cannae by 2.3% during the second quarter. Northern Trust Corp now owns 822,452 shares of the company’s stock worth $23,836,000 after purchasing an additional 18,250 shares during the period. Confluence Investment Management LLC increased its stake in Cannae by 100.5% during the second quarter. Confluence Investment Management LLC now owns 616,167 shares of the company’s stock worth $17,857,000 after purchasing an additional 308,840 shares during the period. Finally, Natixis Advisors L.P. increased its stake in Cannae by 1.5% during the second quarter. Natixis Advisors L.P. now owns 378,839 shares of the company’s stock worth $10,979,000 after purchasing an additional 5,647 shares during the period. 80.55% of the stock is currently owned by hedge funds and other institutional investors.
CNNE has been the topic of a number of recent research reports. TheStreet lowered shares of Cannae from a “b-” rating to a “c+” rating in a research note on Tuesday, September 17th. Zacks Investment Research upgraded shares of Cannae from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday. Finally, ValuEngine lowered shares of Cannae from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
CNNE stock opened at $27.90 on Friday. The company’s 50 day moving average price is $27.84 and its 200 day moving average price is $27.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 0.94. Cannae Holdings Inc has a fifty-two week low of $15.87 and a fifty-two week high of $32.03. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 40.43 and a beta of 0.87.
Cannae (NYSE:CNNE) last released its earnings results on Thursday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.21. Cannae had a net margin of 6.21% and a return on equity of 7.73%. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $281.25 million. During the same period in the prior year, the firm earned ($0.28) earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities analysts forecast that Cannae Holdings Inc will post -0.71 EPS for the current fiscal year.
Cannae Company Profile
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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