Cannae (NYSE:CNNE) Price Target Raised to $17.00

Cannae (NYSE:CNNE) had its price target upped by analysts at Royal Bank Of Canada from $16.00 to $17.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 6.72% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Cannae from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Cannae from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cannae currently has an average rating of “Hold” and a consensus price target of $17.00.

Cannae Stock Up 0.2%

Shares of NYSE:CNNE opened at $15.93 on Friday. The company has a market capitalization of $690.95 million, a PE ratio of -5.28 and a beta of 1.23. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.07. Cannae has a twelve month low of $10.46 and a twelve month high of $19.00. The firm has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $14.26.

Cannae (NYSE:CNNE) last posted its earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $1.28. The firm had revenue of $102.20 million for the quarter, compared to the consensus estimate of $99.65 million. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%.

Institutional Trading of Cannae

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Cannae by 147.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $29,000 after buying an additional 1,195 shares during the last quarter. HighTower Advisors LLC raised its stake in Cannae by 3.1% during the 2nd quarter. HighTower Advisors LLC now owns 44,799 shares of the company’s stock valued at $645,000 after acquiring an additional 1,361 shares in the last quarter. Allworth Financial LP boosted its position in Cannae by 225.7% during the 2nd quarter. Allworth Financial LP now owns 2,231 shares of the company’s stock worth $32,000 after acquiring an additional 1,546 shares during the period. Nykredit A S bought a new position in shares of Cannae in the second quarter worth $25,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Cannae in the second quarter worth $30,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a diversified holding company that invests in and manages operating businesses and other strategic investments. The company focuses on building long-term value through ownership interests in businesses across sectors including financial services, payments, software, data and analytics, restaurants, and consumer services.

Cannae’s portfolio has included both controlling and minority investments in public and private companies. Its activities may involve providing capital, strategic oversight, and operational support to portfolio companies, while also managing investments in publicly traded securities and other assets.