Arizona State Retirement System Trims Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Arizona State Retirement System reduced its position in Cannae Holdings, Inc. (NYSE:CNNE) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 19,485 shares of the company’s stock after selling 1,205 shares during the period. Arizona State Retirement System’s holdings in Cannae were worth $380,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC lifted its holdings in shares of Cannae by 1.3% in the 4th quarter. DAVENPORT & Co LLC now owns 4,758,233 shares of the company’s stock valued at $92,833,000 after purchasing an additional 62,486 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cannae by 2.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,022 shares of the company’s stock valued at $3,922,000 after purchasing an additional 4,072 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cannae by 27.9% in the 3rd quarter. American Century Companies Inc. now owns 60,094 shares of the company’s stock valued at $1,120,000 after purchasing an additional 13,106 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Cannae by 10.8% in the 3rd quarter. Deutsche Bank AG now owns 41,320 shares of the company’s stock valued at $770,000 after purchasing an additional 4,033 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Cannae by 38,345.3% in the 3rd quarter. Comerica Bank now owns 276,806 shares of the company’s stock valued at $5,160,000 after purchasing an additional 276,086 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their target price on Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th.

Insider Buying and Selling at Cannae

In other Cannae news, CEO Richard N. Massey sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard N. Massey sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the transaction, the chief executive officer now directly owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard N. Massey sold 30,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the transaction, the chief executive officer now directly owns 274,367 shares of the company’s stock, valued at $5,385,824.21. The disclosure for this sale can be found here. Insiders sold a total of 103,050 shares of company stock valued at $2,104,039 in the last ninety days. Insiders own 7.40% of the company’s stock.

Cannae Stock Up 0.3 %

CNNE opened at $19.61 on Friday. The business has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $19.78. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.25 billion, a PE ratio of -4.65 and a beta of 0.89. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.17). The company had revenue of $119.30 million for the quarter, compared to analysts’ expectations of $133.50 million. Cannae had a negative net margin of 53.86% and a negative return on equity of 12.31%. As a group, research analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current year.

Cannae Profile

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 was founded in 2014 and is based in Las Vegas, Nevada.