Cannae (NYSE:CNNE) Hits New 52-Week Low – Here’s Why

Cannae Holdings, Inc. (NYSE:CNNE) hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.18 and last traded at $13.0850, with a volume of 33781 shares traded. The stock had previously closed at $13.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. Royal Bank Of Canada lowered their price objective on shares of Cannae from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Cannae Trading Down 1.0%

The stock’s fifty day simple moving average is $15.44 and its two-hundred day simple moving average is $17.12. The firm has a market cap of $648.28 million, a PE ratio of -1.70 and a beta of 1.09. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Cannae

Several hedge funds have recently added to or reduced their stakes in CNNE. River Road Asset Management LLC grew its stake in shares of Cannae by 0.9% in the second quarter. River Road Asset Management LLC now owns 4,719,243 shares of the company’s stock worth $100,897,000 after acquiring an additional 40,367 shares during the last quarter. Carronade Capital Management LP boosted its stake in Cannae by 2.3% in the 4th quarter. Carronade Capital Management LP now owns 3,262,648 shares of the company’s stock worth $51,321,000 after purchasing an additional 73,621 shares in the last quarter. Rubric Capital Management LP grew its position in Cannae by 41.3% during the 2nd quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after purchasing an additional 615,616 shares during the last quarter. Private Management Group Inc. increased its stake in Cannae by 8.5% during the 4th quarter. Private Management Group Inc. now owns 1,821,685 shares of the company’s stock valued at $28,655,000 after purchasing an additional 142,025 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cannae by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,347,741 shares of the company’s stock worth $28,104,000 after buying an additional 24,902 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

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.