Cannae (NYSE:CNNE) Price Target Cut to $36.00 by Analysts at Oppenheimer

Cannae (NYSE:CNNEGet Rating) had its price objective lowered by Oppenheimer from $41.00 to $36.00 in a research note issued on Tuesday, The Fly reports. Oppenheimer’s price objective suggests a potential upside of 82.74% from the stock’s current price.

Separately, Zacks Investment Research raised shares of Cannae from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 19th.

Shares of CNNE stock opened at $19.70 on Tuesday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -6.14 and a beta of 0.80. Cannae has a fifty-two week low of $19.60 and a fifty-two week high of $38.08. The firm’s 50 day moving average price is $23.89 and its two-hundred day moving average price is $29.19.

Cannae (NYSE:CNNEGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($2.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.68). Cannae had a negative net margin of 38.67% and a negative return on equity of 8.18%. During the same quarter last year, the firm earned ($2.55) EPS. On average, research analysts anticipate that Cannae will post 0.09 earnings per share for the current fiscal year.

In related news, major shareholder Cannae Holdings, Inc. sold 84,637 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $12.79, for a total value of $1,082,507.23. Following the sale, the insider now directly owns 25,777,660 shares of the company’s stock, valued at $329,696,271.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard N. Massey purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was bought at an average cost of $26.40 per share, for a total transaction of $264,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 41,000 shares of company stock worth $1,016,230 and have sold 1,198,830 shares worth $16,257,595. Insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV bought a new stake in Cannae during the fourth quarter valued at $242,000. Versor Investments LP bought a new stake in Cannae during the fourth quarter valued at $449,000. Russell Investments Group Ltd. increased its stake in Cannae by 33.5% during the third quarter. Russell Investments Group Ltd. now owns 115,362 shares of the company’s stock valued at $3,588,000 after purchasing an additional 28,960 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Cannae during the third quarter valued at $230,000. Finally, Victory Capital Management Inc. bought a new stake in Cannae during the third quarter valued at $229,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

About Cannae (Get Rating)

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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