November 10, 2019 at 2:29 pm

Morgan Stanley Lowers Position in Cannae Holdings Inc (NYSE:CNNE)

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Morgan Stanley lowered its stake in shares of Cannae Holdings Inc (NYSE:CNNE) by 32.1% during the second quarter, Holdings Channel reports. The institutional investor owned 20,021 shares of the company’s stock after selling 9,475 shares during the period. Morgan Stanley’s holdings in Cannae were worth $580,000 at the end of the most recent reporting period.

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A number of other hedge funds also recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Cannae by 33.7% during the second quarter. Parallel Advisors LLC now owns 3,928 shares of the company’s stock worth $114,000 after buying an additional 989 shares in the last quarter. Enterprise Trust & Investment Co purchased a new stake in Cannae during the second quarter worth about $29,000. Crescent Grove Advisors LLC boosted its holdings in Cannae by 1.2% during the second quarter. Crescent Grove Advisors LLC now owns 117,434 shares of the company’s stock worth $3,403,000 after buying an additional 1,355 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Cannae by 9.4% during the second quarter. Raymond James Trust N.A. now owns 17,612 shares of the company’s stock worth $511,000 after buying an additional 1,510 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Cannae during the second quarter worth about $95,000. 80.53% of the stock is currently owned by hedge funds and other institutional investors.

CNNE stock opened at $28.85 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.15 billion, a P/E ratio of 41.81 and a beta of 0.88. The company’s 50-day moving average price is $28.28 and its 200 day moving average price is $27.84. Cannae Holdings Inc has a 52 week low of $15.87 and a 52 week high of $32.03.

Cannae (NYSE:CNNE) last announced its earnings results on Thursday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $281.25 million. Cannae had a net margin of 6.21% and a return on equity of 7.73%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) earnings per share. On average, equities research analysts expect that Cannae Holdings Inc will post -0.71 earnings per share for the current year.

A number of analysts recently commented on CNNE shares. ValuEngine downgraded shares of Cannae from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of Cannae from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, November 5th. Finally, TheStreet downgraded shares of Cannae from a “b-” rating to a “c+” rating in a report on Tuesday, September 17th.

In other Cannae news, Director Richard N. Massey bought 10,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.53 per share, for a total transaction of $275,300.00. Also, CFO Richard L. Cox bought 3,699 shares of the business’s stock in a transaction on Friday, September 20th. The shares were acquired at an average price of $27.05 per share, with a total value of $100,057.95. In the last 90 days, insiders have acquired 33,699 shares of company stock valued at $945,158. 7.20% of the stock is currently owned by company insiders.

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 is based in Las Vegas, Nevada.

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Want to see what other hedge funds are holding CNNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cannae Holdings Inc (NYSE:CNNE).

Institutional Ownership by Quarter for Cannae (NYSE:CNNE)

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