Cannae Holdings Inc (NYSE:CNNE) was down 5.8% during trading on Thursday . The company traded as low as $16.49 and last traded at $17.20. Approximately 765,402 shares were traded during trading, an increase of 104% from the average daily volume of 374,730 shares. The stock had previously closed at $18.25.
A number of equities research analysts have commented on CNNE shares. Zacks Investment Research lowered Cannae from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Piper Jaffray Companies upgraded Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Friday. Finally, TheStreet upgraded Cannae from a “d+” rating to a “c-” rating in a research report on Thursday, September 6th.
The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.33. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.73 and a beta of 0.73.
In other news, Director Richard N. Massey purchased 39,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was bought at an average cost of $18.70 per share, with a total value of $729,300.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 4.90% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc bought a new position in shares of Cannae in the 2nd quarter valued at approximately $109,000. Hikari Power Ltd bought a new position in shares of Cannae in the 2nd quarter valued at approximately $249,000. Raymond James Trust N.A. bought a new position in shares of Cannae in the 3rd quarter valued at approximately $250,000. Cambria Investment Management L.P. bought a new position in shares of Cannae in the 2nd quarter valued at approximately $253,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Cannae in the 2nd quarter valued at approximately $258,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Cannae (CNNE) Trading Down 5.8%” was first published by BBNS and is owned by of BBNS. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://baseballnewssource.com/2018/11/10/cannae-cnne-trading-down-5-8/2973685.html.
About Cannae (NYSE:CNNE)
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.
Featured Story: What is a bull market?
Receive News & Ratings for Cannae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cannae and related companies with MarketBeat.com's FREE daily email newsletter.