Cannae (NYSE:CNNE) Stock Price Down 1.9% - Time to Sell?

Key Points

• Cannae shares fell 1.9% on Monday, trading as low as $14.44 before ending near $14.67 on lighter-than-average volume.
• Recent analyst views are mixed, with an overall Hold rating and an average price target of $17.00; ratings include Buy, Hold, and Sell recommendations from different firms.
• The company recently missed earnings expectations, reporting a loss of $0.70 per share versus an expected $0.40 loss, while revenue also came in below estimates and fell 6.8% year over year.

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report)'s share price fell 1.9% during mid-day trading on Monday . The stock traded as low as $14.44 and last traded at $14.67. Approximately 383,238 shares were traded during trading, a decline of 18% from the average daily volume of 466,699 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

CNNE has been the topic of several recent analyst reports. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Cannae in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cannae in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Cannae in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.00.

Cannae Stock Down 1.9%

The firm has a market cap of $644.60 million, a PE ratio of -1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71. The firm's 50-day moving average price is $14.23 and its two-hundred day moving average price is $13.67.

Cannae (NYSE:CNNE - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.30). Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%. The company had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. During the same quarter in the previous year, the company posted ($1.81) EPS. The company's quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect that Cannae Holdings, Inc. will post -2.4 EPS for the current fiscal year.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Cannae's dividend payout ratio is currently -7.68%.

Institutional Trading of Cannae

A number of hedge funds and other institutional investors have recently made changes to their positions in CNNE. GAMMA Investing LLC boosted its position in shares of Cannae by 147.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company's stock valued at $29,000 after purchasing an additional 1,195 shares during the period. Essential Partners LLC increased its position in Cannae by 2,913.0% during the first quarter. Essential Partners LLC now owns 2,772 shares of the company's stock worth $32,000 after buying an additional 2,680 shares during the period. Parallel Advisors LLC acquired a new position in Cannae during the first quarter worth approximately $50,000. Quantbot Technologies LP acquired a new position in Cannae during the second quarter worth approximately $62,000. Finally, Kelleher Financial Advisors purchased a new stake in Cannae in the third quarter valued at approximately $73,000. Institutional investors and hedge funds own 88.12% of the company's stock.

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.

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