Entropy Technologies LP Invests $304,000 in Cannae Holdings, Inc. (NYSE:CNNE)

Entropy Technologies LP acquired a new position in Cannae Holdings, Inc. (NYSE:CNNE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,291 shares of the company’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Private Management Group Inc. acquired a new stake in Cannae during the fourth quarter valued at $16,643,000. FMR LLC grew its position in Cannae by 17.6% during the third quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after buying an additional 397,352 shares during the period. Barclays PLC grew its position in Cannae by 221.9% during the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock valued at $1,818,000 after buying an additional 65,749 shares during the period. River Road Asset Management LLC grew its position in Cannae by 0.9% during the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock valued at $107,977,000 after buying an additional 50,150 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Cannae by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock valued at $8,666,000 after buying an additional 44,691 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their price target on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th.

Cannae Stock Up 1.2 %

Shares of NYSE CNNE opened at $19.61 on Friday. The company’s 50-day simple moving average is $19.70 and its 200-day simple moving average is $19.69. Cannae Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $22.99. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -4.08 and a beta of 0.86. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $113.90 million for the quarter, compared to analyst estimates of $105.67 million. During the same quarter last year, the business earned ($2.18) earnings per share. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

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 was founded in 2014 and is based in Las Vegas, Nevada.