Envestnet Asset Management Inc. Sells 30,803 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Envestnet Asset Management Inc. lessened its stake in Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,798 shares of the company’s stock after selling 30,803 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Cannae worth $2,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jump Financial LLC raised its position in Cannae by 21.5% during the 3rd quarter. Jump Financial LLC now owns 64,733 shares of the company’s stock valued at $1,337,000 after purchasing an additional 11,433 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Cannae during the 3rd quarter valued at approximately $205,000. ETF Managers Group LLC raised its position in Cannae by 4.0% during the 3rd quarter. ETF Managers Group LLC now owns 28,645 shares of the company’s stock valued at $592,000 after purchasing an additional 1,111 shares during the last quarter. Palliser Capital UK Ltd bought a new position in Cannae during the 4th quarter valued at approximately $6,198,000. Finally, River Road Asset Management LLC raised its position in Cannae by 2.1% during the 4th quarter. River Road Asset Management LLC now owns 5,709,597 shares of the company’s stock valued at $117,903,000 after purchasing an additional 117,753 shares during the last quarter. Institutional investors own 86.29% of the company’s stock.

Cannae Stock Up 0.5 %

CNNE stock opened at $19.55 on Friday. Cannae Holdings, Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $25.74. The business’s 50 day moving average price is $18.89 and its two-hundred day moving average price is $21.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.53 and a current ratio of 2.53. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -9.05 and a beta of 0.87.

Cannae (NYSE:CNNE – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.65. Cannae had a negative return on equity of 0.14% and a negative net margin of 28.44%. The firm had revenue of $155.70 million for the quarter, compared to the consensus estimate of $170.00 million. As a group, analysts forecast that Cannae Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard N. Massey purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average price of $18.01 per share, for a total transaction of $900,500.00. Following the purchase, the chief executive officer now directly owns 377,417 shares of the company’s stock, valued at approximately $6,797,280.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Royal Bank of Canada lowered their price target on Cannae from $32.00 to $28.00 in a research report on Thursday, May 11th.

Cannae Profile

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Cannae Holdings, Inc engages in the management and operation of a group of companies and investments. It operates through the following segments: Dun & Bradstreet, Optimal Blue, Restaurant Group, and Corporate and Other. The Dun & Bradstreet segment offers business decision data and analytics. The Optimal Blue segment is involved in secondary market solutions and actionable data services.