Triad Investment Management decreased its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,519 shares of the company's stock after selling 40,000 shares during the quarter. Cannae makes up 4.9% of Triad Investment Management's portfolio, making the stock its 2nd largest position. Triad Investment Management owned 0.20% of Cannae worth $3,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Cannae by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 7,196,459 shares of the company's stock valued at $172,140,000 after buying an additional 51,983 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Cannae by 1.3% in the 1st quarter. BlackRock Inc. now owns 6,810,406 shares of the company's stock valued at $162,903,000 after purchasing an additional 84,346 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Cannae by 1.7% in the 1st quarter. River Road Asset Management LLC now owns 6,751,655 shares of the company's stock valued at $161,500,000 after purchasing an additional 115,820 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Cannae by 5.0% in the 1st quarter. DAVENPORT & Co LLC now owns 6,411,962 shares of the company's stock valued at $154,483,000 after purchasing an additional 304,459 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cannae by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,826,358 shares of the company's stock valued at $43,689,000 after purchasing an additional 101,368 shares in the last quarter. Institutional investors own 87.15% of the company's stock.
Get Cannae alerts:Analysts Set New Price Targets
Several research firms have recently commented on CNNE. TheStreet lowered shares of Cannae from a "c-" rating to a "d" rating in a report on Tuesday, August 9th. Stephens boosted their price target on shares of Cannae from $41.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, August 9th.
Insiders Place Their Bets
In other Cannae 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 shares were 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 of the company's stock, valued at approximately $1,110,411,776.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.Cannae Stock Down 1.4 %
Shares of Cannae stock traded down $0.27 on Friday, reaching $19.73. The stock had a trading volume of 735,582 shares, compared to its average volume of 578,829. The company has a 50 day moving average price of $21.91 and a 200 day moving average price of $21.71. 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 1 year low of $17.11 and a 1 year high of $36.50. The stock has a market capitalization of $1.58 billion, a P/E ratio of -2.29 and a beta of 0.78.
Cannae (NYSE:CNNE – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.86). Cannae had a negative return on equity of 17.80% and a negative net margin of 104.42%. The firm had revenue of $174.50 million during the quarter, compared to analysts' expectations of $234.50 million. As a group, equities research analysts forecast that Cannae Holdings, Inc. will post -6.03 EPS for the current year.
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.
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