Cannae (NYSE:CNNE) Posts Earnings Results, Misses Expectations By $0.30 EPS

Cannae (NYSE:CNNE) announced its earnings results on Monday. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30), FiscalAI reports. The firm had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%.

Cannae Stock Performance

CNNE traded down $0.32 on Monday, hitting $13.87. 462,254 shares of the company traded hands, compared to its average volume of 611,083. The company has a 50 day moving average of $12.21 and a 200-day moving average of $14.55. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $613.30 million, a PE ratio of -1.55 and a beta of 1.18. Cannae has a 12-month low of $10.46 and a 12-month high of $21.96.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.3%. Cannae’s dividend payout ratio is currently -6.73%.

Institutional Trading of Cannae

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cannae by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock valued at $613,000 after acquiring an additional 1,405 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Cannae by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 299,843 shares of the company’s stock valued at $5,496,000 after acquiring an additional 11,788 shares during the last quarter. Jane Street Group LLC raised its stake in Cannae by 95.4% during the 1st quarter. Jane Street Group LLC now owns 54,393 shares of the company’s stock valued at $997,000 after acquiring an additional 26,550 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Cannae during the 2nd quarter valued at approximately $62,000. Finally, Jump Financial LLC raised its stake in Cannae by 353.3% during the 2nd quarter. Jump Financial LLC now owns 64,606 shares of the company’s stock valued at $1,347,000 after acquiring an additional 50,353 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Cannae in a research report on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Cannae in a research report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.00.

About Cannae

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.