Cannae’s (CNNE) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Cannae (NYSE:CNNE) in a research report report published on Thursday, Marketbeat Ratings reports. They currently have a $17.00 price objective on the stock.

Other research analysts have also issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Cannae in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.00.

Cannae Stock Up 1.4%

CNNE stock opened at $13.26 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $614.10 million, a PE ratio of -1.49 and a beta of 1.09. Cannae has a 1-year low of $10.46 and a 1-year high of $21.96. The business’s 50 day simple moving average is $12.13 and its 200 day simple moving average is $14.82.

Cannae (NYSE:CNNE) last posted its earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($1.55). The business had revenue of $103.30 million for the quarter, compared to analyst estimates of $102.70 million. Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.74) earnings per share. As a group, research analysts anticipate that Cannae will post -2.02 EPS for the current year.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, March 17th. Cannae’s dividend payout ratio is currently -6.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Poehling Capital Management INC. grew its holdings in Cannae by 46.4% in the 1st quarter. Poehling Capital Management INC. now owns 954,190 shares of the company’s stock valued at $10,849,000 after buying an additional 302,494 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Cannae in the 4th quarter valued at $299,000. XTX Topco Ltd acquired a new position in Cannae in the 4th quarter valued at $2,362,000. VARCOV Co. acquired a new position in Cannae in the 4th quarter valued at $533,000. Finally, Saba Capital Management L.P. grew its holdings in Cannae by 23.3% in the 4th quarter. Saba Capital Management L.P. now owns 1,714,994 shares of the company’s stock valued at $26,977,000 after buying an additional 323,531 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.