BI Asset Management Fondsmaeglerselskab A S Invests $855,000 in Cannae Holdings, Inc. $CNNE

BI Asset Management Fondsmaeglerselskab A S bought a new position in Cannae Holdings, Inc. (NYSE:CNNE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 46,718 shares of the company’s stock, valued at approximately $855,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.09% of Cannae as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Carronade Capital Management LP raised its holdings in Cannae by 5.7% during the 2nd quarter. Carronade Capital Management LP now owns 3,189,027 shares of the company’s stock worth $66,491,000 after buying an additional 173,380 shares during the period. Pacific Capital Partners Ltd acquired a new position in shares of Cannae in the third quarter worth about $1,419,000. Permanent Capital Management LP purchased a new position in shares of Cannae in the third quarter worth approximately $897,000. River Road Asset Management LLC raised its holdings in shares of Cannae by 0.9% during the second quarter. River Road Asset Management LLC now owns 4,719,243 shares of the company’s stock valued at $100,897,000 after acquiring an additional 40,367 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Cannae by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,347,741 shares of the company’s stock valued at $28,104,000 after acquiring an additional 24,902 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Price Performance

CNNE opened at $14.26 on Monday. The stock has a fifty day moving average price of $15.77 and a 200 day moving average price of $17.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.05. Cannae Holdings, Inc. has a 1 year low of $13.83 and a 1 year high of $21.96. The stock has a market cap of $702.80 million, a price-to-earnings ratio of -1.84 and a beta of 1.09.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.94). Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The firm had revenue of $106.90 million for the quarter, compared to analyst estimates of $104.80 million. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNNE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research report on Friday, January 9th. Royal Bank Of Canada decreased their target price on Cannae from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Finally, Zacks Research raised Cannae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cannae currently has a consensus rating of “Hold” and an average price target of $20.50.

Cannae 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.