Cannae (NYSE:CNNE) Reaches New 1-Year Low – Here’s Why

Cannae Holdings, Inc. (NYSE:CNNE)’s stock price hit a new 52-week low on Thursday . The company traded as low as $11.20 and last traded at $11.0650, with a volume of 45078 shares changing hands. The stock had previously closed at $11.37.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a report on Friday, January 9th. Royal Bank Of Canada lowered their target price on Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.00.

Cannae Price Performance

The company has a fifty day simple moving average of $13.51 and a 200-day simple moving average of $15.99. The company has a market cap of $501.47 million, a P/E ratio of -1.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 2.07.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The company had revenue of $103.30 million for the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The business’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.74) earnings per share. On average, sell-side analysts predict that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.15 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.5%. Cannae’s dividend payout ratio (DPR) is -6.73%.

Institutional Trading of Cannae

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Cannae by 6.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,189 shares of the company’s stock worth $254,000 after buying an additional 725 shares during the period. CWM LLC lifted its position in shares of Cannae by 25.0% in the 3rd quarter. CWM LLC now owns 4,065 shares of the company’s stock valued at $74,000 after acquiring an additional 812 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Cannae by 0.5% in the 2nd quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock valued at $5,574,000 after acquiring an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cannae by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after purchasing an additional 1,405 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Cannae by 66.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock worth $87,000 after purchasing an additional 1,669 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.