Zurcher Kantonalbank Zurich Cantonalbank Has $240,000 Position in Cannae Holdings, Inc. (NYSE:CNNE)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,301 shares of the company’s stock after selling 4,018 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cannae were worth $240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SRS Capital Advisors Inc. increased its position in Cannae by 22.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock valued at $69,000 after buying an additional 669 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Cannae in the 3rd quarter valued at about $114,000. Park Avenue Securities LLC bought a new stake in Cannae in the 3rd quarter valued at about $189,000. Mackenzie Financial Corp bought a new stake in Cannae in the 3rd quarter valued at about $187,000. Finally, Principal Financial Group Inc. bought a new stake in Cannae in the 3rd quarter valued at about $198,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Richard N. Massey sold 23,050 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the transaction, the chief executive officer now directly owns 404,367 shares of the company’s stock, valued at $8,317,829.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 value 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 $7,377,920.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard N. Massey sold 23,050 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the transaction, the chief executive officer now directly owns 404,367 shares of the company’s stock, valued at $8,317,829.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,050 shares of company stock valued at $2,104,039. Corporate insiders own 7.40% of the company’s stock.

Cannae Stock Performance

Shares of CNNE opened at $20.69 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a 50 day moving average price of $21.15 and a two-hundred day moving average price of $19.92. The firm has a market capitalization of $1.30 billion, a P/E ratio of -4.90 and a beta of 0.91. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99.

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

Wall Street Analyst Weigh In

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

About Cannae

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.