Royal Bank Of Canada Issues Positive Forecast for Cannae (NYSE:CNNE) Stock Price

Cannae (NYSE:CNNE) had its price objective raised by Royal Bank Of Canada from $16.00 to $17.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 6.72% from the company’s current price.

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

Cannae Trading Up 0.2%

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

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

Institutional Trading of Cannae

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Cannae in the second quarter worth $59,496,000. Private Management Group Inc. grew its position in shares of Cannae by 4.4% in the second quarter. Private Management Group Inc. now owns 2,404,943 shares of the company’s stock valued at $34,631,000 after purchasing an additional 101,200 shares during the last quarter. Poehling Capital Management INC. lifted its position in shares of Cannae by 46.4% during the 1st quarter. Poehling Capital Management INC. now owns 954,190 shares of the company’s stock worth $10,849,000 after purchasing an additional 302,494 shares during the last quarter. Almitas Capital LLC bought a new position in Cannae in the 2nd quarter worth approximately $10,675,000. Finally, Cygnus Capital Advisors LLC raised its stake in shares of Cannae by 39.7% in the second quarter. Cygnus Capital Advisors LLC now owns 300,240 shares of the company’s stock valued at $4,323,000 after purchasing an additional 85,392 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.