Cannae (CNNE) Stock Rating Upgraded by Zacks Investment Research

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Cannae (NYSE:CNNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $24.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 10.75% from the stock’s previous close.

According to Zacks, “Cannae Holdings, Inc. holds majority and minority equity investment stakes in a number of entities, including Ceridian Holdings, LLC, American Blue Ribbon Holdings, LLC and T-System Holding LLC. Cannae Holdings, Inc., formerly known as Fidelity National Financial Inc., is based in FL, United States. “

Several other research analysts have also recently issued reports on the company. ValuEngine cut Cannae from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Piper Jaffray Companies raised Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 price target on the stock in a report on Friday, November 9th.

NYSE CNNE opened at $21.67 on Tuesday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.07 and a beta of 0.73. Cannae has a 1 year low of $15.87 and a 1 year high of $21.92. The company has a current ratio of 2.12, a quick ratio of 1.75 and a debt-to-equity ratio of 0.01.

In related news, Director Richard N. Massey purchased 10,000 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were bought at an average price of $17.00 per share, with a total value of $170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walthausen & Co. LLC acquired a new stake in Cannae during the 3rd quarter valued at $10,049,000. Maltese Capital Management LLC acquired a new stake in Cannae during the 3rd quarter valued at $9,979,000. Dimensional Fund Advisors LP raised its stake in Cannae by 13.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,621,528 shares of the company’s stock valued at $54,921,000 after purchasing an additional 307,826 shares during the period. Confluence Investment Management LLC acquired a new stake in Cannae during the 3rd quarter valued at $6,119,000. Finally, BlackRock Inc. raised its stake in Cannae by 5.5% during the 3rd quarter. BlackRock Inc. now owns 5,224,312 shares of the company’s stock valued at $109,449,000 after purchasing an additional 271,725 shares during the period. 80.62% of the stock is currently owned by institutional investors.

About Cannae

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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