Cannae (NYSE:CNNE) Sets New 52-Week High at $22.99

Cannae Holdings, Inc. (NYSE:CNNEGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.99 and last traded at $22.58, with a volume of 204601 shares trading hands. The stock had previously closed at $22.51.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their price objective on Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th.

Get Our Latest Analysis on Cannae

Cannae Price Performance

The stock has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $19.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 1.65.

Cannae (NYSE:CNNEGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.17). Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. The business had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $133.50 million. As a group, research analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Simplex Trading LLC bought a new stake in shares of Cannae in the fourth quarter worth $27,000. Principal Securities Inc. bought a new stake in shares of Cannae in the fourth quarter worth $36,000. Tower Research Capital LLC TRC grew its holdings in shares of Cannae by 70.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the company’s stock worth $53,000 after acquiring an additional 1,177 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Cannae in the second quarter worth $55,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Cannae by 66.4% in the first quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock worth $63,000 after acquiring an additional 1,050 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Cannae

(Get Free Report)

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.

Further Reading

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