Raymond James & Associates Sells 54,060 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Raymond James & Associates decreased its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 286,061 shares of the company's stock after selling 54,060 shares during the period. Raymond James & Associates owned about 0.40% of Cannae worth $5,581,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. grew its position in shares of Cannae by 22.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company's stock worth $69,000 after acquiring an additional 669 shares in the last quarter. Legal & General Group Plc increased its stake in Cannae by 0.3% during the third quarter. Legal & General Group Plc now owns 233,346 shares of the company's stock valued at $4,350,000 after purchasing an additional 708 shares during the last quarter. Comerica Bank acquired a new stake in shares of Cannae during the second quarter worth $150,000. Rhumbline Advisers lifted its position in shares of Cannae by 0.9% in the 1st quarter. Rhumbline Advisers now owns 111,651 shares of the company's stock worth $2,253,000 after buying an additional 1,030 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of Cannae by 66.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company's stock valued at $63,000 after buying an additional 1,050 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Richard N. Massey sold 23,050 shares of the firm's stock in a transaction on Friday, April 5th. The stock was sold at an average price of $20.57, for a total transaction of $474,138.50. Following the transaction, the chief executive officer now directly owns 404,367 shares of the company's stock, valued at $8,317,829.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.40% of the company's stock.

Analyst Ratings Changes

Separately, Oppenheimer raised their target price on shares of Cannae from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th.

Cannae Stock Performance

CNNE stock traded down $0.38 during mid-day trading on Wednesday, reaching $20.87. The company had a trading volume of 1,015,916 shares, compared to its average volume of 781,262. The stock's 50-day simple moving average is $21.49 and its two-hundred day simple moving average is $19.72. The stock has a market capitalization of $1.51 billion, a P/E ratio of -4.95 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. Cannae Holdings, Inc. has a one year low of $15.93 and a one year high of $22.99.

Cannae (NYSE:CNNE - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.17). Cannae had a negative net margin of 53.86% and a negative return on equity of 12.31%. The firm had revenue of $119.30 million for the quarter, compared to analyst estimates of $133.50 million. Research analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current year.

Cannae Profile

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.