Cannae (NYSE:CNNE) Price Target Cut to $22.00 by Analysts at Oppenheimer

Cannae (NYSE:CNNE) had its target price dropped by analysts at Oppenheimer from $27.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 23.66% from the company’s previous close.

Separately, Royal Bank of Canada decreased their price objective on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th.

Cannae Trading Down 2.0 %

NYSE CNNE opened at $17.79 on Friday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -3.70 and a beta of 0.86. Cannae has a 52 week low of $16.94 and a 52 week high of $22.99. The business has a 50 day moving average price of $19.37 and a 200-day moving average price of $19.67. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Cannae

Several institutional investors have recently bought and sold shares of CNNE. Saba Capital Management L.P. grew its holdings in Cannae by 92.3% during the fourth quarter. Saba Capital Management L.P. now owns 2,219,230 shares of the company’s stock worth $44,074,000 after buying an additional 1,065,083 shares in the last quarter. Carronade Capital Management LP grew its holdings in Cannae by 145.5% during the fourth quarter. Carronade Capital Management LP now owns 1,728,926 shares of the company’s stock worth $34,336,000 after buying an additional 1,024,663 shares in the last quarter. Private Management Group Inc. bought a new stake in Cannae during the fourth quarter worth $16,643,000. Invenomic Capital Management LP bought a new stake in Cannae during the fourth quarter worth $10,174,000. Finally, FMR LLC grew its stake in Cannae by 17.6% in the 3rd quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after purchasing an additional 397,352 shares during the period. Institutional investors own 88.12% of the company’s stock.

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.