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Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Confluence Investment Management LLC

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Confluence Investment Management LLC reduced its position in Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626,229 shares of the company's stock after selling 122,353 shares during the period. Confluence Investment Management LLC's holdings in Cannae were worth $12,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Cannae by 8.3% in the 1st quarter. Bank of America Corp DE now owns 256,904 shares of the company's stock valued at $6,145,000 after purchasing an additional 19,733 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Cannae by 36.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 49,204 shares of the company's stock worth $1,177,000 after acquiring an additional 13,098 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Cannae by 66.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company's stock worth $63,000 after acquiring an additional 1,050 shares in the last quarter. Royal Bank of Canada lifted its position in Cannae by 1.6% during the 1st quarter. Royal Bank of Canada now owns 440,216 shares of the company's stock worth $10,530,000 after acquiring an additional 6,932 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its position in Cannae by 4.2% during the 1st quarter. First Republic Investment Management Inc. now owns 50,332 shares of the company's stock worth $1,204,000 after acquiring an additional 2,006 shares in the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Director Cannae Holdings, Inc. sold 7,871,685 shares of the business's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $13.81, for a total value of $108,707,969.85. Following the completion of the sale, the director now directly owns 80,406,356 shares in the company, valued at approximately $1,110,411,776.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Cannae Price Performance

CNNE stock opened at $22.86 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.04. Cannae Holdings, Inc. has a 52-week low of $17.11 and a 52-week high of $36.50. The stock's 50 day moving average is $21.86 and its two-hundred day moving average is $21.88. The company has a market capitalization of $1.83 billion, a PE ratio of -2.65 and a beta of 0.78.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TheStreet lowered Cannae from a "c-" rating to a "d" rating in a research report on Tuesday, August 9th. Stephens boosted their price target on Cannae from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 9th.

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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