Creative Planning Acquires 11,925 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Creative Planning lifted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 53.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,204 shares of the company’s stock after acquiring an additional 11,925 shares during the quarter. Creative Planning owned approximately 0.05% of Cannae worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in Cannae by 82.8% in the first quarter. BNP Paribas Financial Markets now owns 32,482 shares of the company’s stock worth $722,000 after purchasing an additional 14,711 shares during the period. Sciencast Management LP purchased a new stake in Cannae in the first quarter worth $374,000. SG Americas Securities LLC grew its stake in Cannae by 90.3% in the first quarter. SG Americas Securities LLC now owns 22,804 shares of the company’s stock worth $507,000 after purchasing an additional 10,823 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Cannae by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 14,071 shares of the company’s stock worth $313,000 after purchasing an additional 498 shares during the period. Finally, Sei Investments Co. grew its stake in Cannae by 1.7% in the first quarter. Sei Investments Co. now owns 44,237 shares of the company’s stock worth $984,000 after purchasing an additional 756 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cannae Price Performance

Shares of CNNE stock opened at $19.50 on Monday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -2.88 and a beta of 0.87. The business’s fifty day moving average is $19.15 and its 200 day moving average is $19.11. Cannae Holdings, Inc. has a twelve month low of $16.53 and a twelve month high of $22.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.04.

Cannae (NYSE:CNNE) last released its earnings results on Thursday, August 8th. The company reported ($2.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The company had revenue of $118.00 million during the quarter, compared to analysts’ expectations of $112.00 million. During the same period in the prior year, the company posted ($1.16) earnings per share. The company’s revenue was down 22.8% on a year-over-year basis. Research analysts expect that Cannae Holdings, Inc. will post -3.03 EPS for the current fiscal year.

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.