DAVENPORT & Co LLC Trims Stock Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

DAVENPORT & Co LLC lowered its position in Cannae Holdings, Inc. (NYSE:CNNE) by 98.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,161 shares of the company’s stock after selling 2,129,574 shares during the period. DAVENPORT & Co LLC’s holdings in Cannae were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in shares of Cannae by 84.7% during the second quarter. Truist Financial Corp now owns 43,158 shares of the company’s stock worth $783,000 after purchasing an additional 19,787 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Cannae by 93.4% during the third quarter. SG Americas Securities LLC now owns 18,285 shares of the company’s stock worth $349,000 after purchasing an additional 8,831 shares during the last quarter. Creative Planning raised its stake in shares of Cannae by 53.5% during the third quarter. Creative Planning now owns 34,204 shares of the company’s stock worth $652,000 after purchasing an additional 11,925 shares during the last quarter. Shayne & Jacobs LLC raised its stake in shares of Cannae by 3.6% during the third quarter. Shayne & Jacobs LLC now owns 89,576 shares of the company’s stock worth $1,707,000 after purchasing an additional 3,080 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Cannae during the third quarter worth approximately $113,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Cannae Trading Down 2.7 %

NYSE:CNNE opened at $19.37 on Friday. The stock has a fifty day moving average price of $19.86 and a two-hundred day moving average price of $19.69. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.03 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). The firm had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $105.67 million. Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. Cannae’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.18) earnings per share. As a group, sell-side analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae Company 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.