Factorial Partners LLC Reduces Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Key Points

• Factorial Partners LLC has reduced its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 9.8%, now owning 166,177 shares after selling 18,000 shares in the 1st quarter.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00 and assigned an "outperform" rating.
• Cannae's recent quarterly earnings reported an EPS of ($0.59), missing the consensus estimate and showing a year-over-year revenue decrease of 6.8%.

Factorial Partners LLC reduced its position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,177 shares of the company's stock after selling 18,000 shares during the quarter. Cannae accounts for approximately 1.9% of Factorial Partners LLC's investment portfolio, making the stock its 23rd largest holding. Factorial Partners LLC owned approximately 0.26% of Cannae worth $3,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Spire Wealth Management grew its stake in Cannae by 81.4% in the first quarter. Spire Wealth Management now owns 4,100 shares of the company's stock valued at $75,000 after purchasing an additional 1,840 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Cannae in the fourth quarter valued at about $122,000. GAMMA Investing LLC grew its stake in Cannae by 2,236.9% in the first quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock valued at $154,000 after purchasing an additional 8,053 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Cannae in the fourth quarter valued at about $203,000. Finally, XTX Topco Ltd purchased a new position in Cannae in the fourth quarter valued at about $214,000. 88.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada boosted their price target on Cannae from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th.

Cannae Stock Down 4.0%

Shares of CNNE stock traded down $0.82 during trading hours on Thursday, reaching $19.68. 661,814 shares of the company's stock were exchanged, compared to its average volume of 628,452. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36. The stock has a market cap of $1.24 billion, a PE ratio of -3.74 and a beta of 1.06. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average price is $20.61 and its two-hundred day moving average price is $19.10.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). Cannae had a negative return on equity of 4.86% and a negative net margin of 73.64%. The business had revenue of $103.20 million for the quarter, compared to analysts' expectations of $105.30 million. During the same quarter in the previous year, the firm posted ($1.27) EPS. Cannae's revenue was down 6.8% on a year-over-year basis. Research analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current 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.