Mercer Global Advisors Inc. ADV boosted its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 25.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,650 shares of the company's stock after purchasing an additional 1,765 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Cannae were worth $207,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Advisors Capital Management LLC boosted its position in Cannae by 12.5% during the 1st quarter. Advisors Capital Management LLC now owns 63,975 shares of the company's stock valued at $1,530,000 after purchasing an additional 7,102 shares during the period. Swiss National Bank raised its position in Cannae by 7.4% during the first quarter. Swiss National Bank now owns 189,194 shares of the company's stock valued at $4,526,000 after buying an additional 13,100 shares during the period. Duality Advisers LP acquired a new position in Cannae during the first quarter valued at $623,000. Teacher Retirement System of Texas raised its position in Cannae by 7.5% during the first quarter. Teacher Retirement System of Texas now owns 16,519 shares of the company's stock valued at $395,000 after buying an additional 1,154 shares during the period. Finally, Shufro Rose & Co. LLC acquired a new position in Cannae during the first quarter valued at $359,000. Institutional investors and hedge funds own 87.15% of the company's stock.
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Insider Transactions at Cannae
In other news, Director Cannae Holdings, Inc. sold 7,871,685 shares of the company'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 completion of the sale, the director now owns 80,406,356 shares in the company, valued at approximately $1,110,411,776.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on CNNE shares. Stephens upped their price target on Cannae from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Tuesday, August 9th. TheStreet lowered Cannae from a "c-" rating to a "d" rating in a research report on Tuesday, August 9th. Finally, Oppenheimer dropped their target price on Cannae from $41.00 to $36.00 in a research report on Tuesday, May 10th.
Cannae Stock Performance
Shares of CNNE stock opened at $21.52 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.69. Cannae Holdings, Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $36.50. The stock's 50-day moving average is $21.32 and its two-hundred day moving average is $22.24. The firm has a market cap of $1.72 billion, a P/E ratio of -2.49 and a beta of 0.80.
About Cannae
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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.
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