Swiss National Bank raised its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,194 shares of the company's stock after purchasing an additional 13,100 shares during the quarter. Swiss National Bank owned 0.22% of Cannae worth $4,526,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. DAVENPORT & Co LLC raised its holdings in shares of Cannae by 5.0% in the first quarter. DAVENPORT & Co LLC now owns 6,411,962 shares of the company's stock valued at $154,483,000 after acquiring an additional 304,459 shares in the last quarter. Tensile Capital Management LP raised its holdings in shares of Cannae by 37.2% in the fourth quarter. Tensile Capital Management LP now owns 900,356 shares of the company's stock valued at $31,648,000 after acquiring an additional 244,168 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Cannae by 34.1% in the first quarter. Thompson Siegel & Walmsley LLC now owns 901,698 shares of the company's stock valued at $21,569,000 after acquiring an additional 229,532 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cannae by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,724,990 shares of the company's stock valued at $60,635,000 after acquiring an additional 143,633 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Cannae by 50.2% in the first quarter. Russell Investments Group Ltd. now owns 324,815 shares of the company's stock worth $7,768,000 after purchasing an additional 108,548 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Oppenheimer reduced their target price on shares of Cannae from $41.00 to $36.00 in a report on Tuesday, May 10th. Stephens boosted their target price on shares of Cannae from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Tuesday, August 9th. Finally, TheStreet downgraded shares of Cannae from a "c-" rating to a "d" rating in a report on Tuesday, August 9th.
Insider Transactions at Cannae
In other news, Director Cannae Holdings, Inc. sold 7,871,685 shares of the business's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $13.81, for a total transaction of $108,707,969.85. Following the sale, the director now owns 80,406,356 shares in the company, valued at $1,110,411,776.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.10% of the company's stock.
Cannae Price Performance
Shares of CNNE stock opened at $22.64 on Friday. Cannae Holdings, Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $36.50. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.69 and a current ratio of 0.69. The stock's 50-day simple moving average is $21.06 and its 200-day simple moving average is $22.45.
Cannae Company Profile
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Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc is based in Las Vegas, Nevada.
Further Reading
- Get a free copy of the StockNews.com research report on Cannae (CNNE)
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