Sterling Capital Management LLC lessened its stake in Cannae Holdings Inc (NYSE:CNNE) by 36.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 101,280 shares of the company’s stock after selling 57,727 shares during the period. Sterling Capital Management LLC’s holdings in Cannae were worth $2,935,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Enterprise Trust & Investment Co bought a new stake in shares of Cannae during the 2nd quarter valued at $29,000. Quantamental Technologies LLC bought a new stake in shares of Cannae during the 2nd quarter valued at $95,000. Parallel Advisors LLC raised its position in shares of Cannae by 33.7% during the 2nd quarter. Parallel Advisors LLC now owns 3,928 shares of the company’s stock valued at $114,000 after acquiring an additional 989 shares during the last quarter. Bank of Montreal Can raised its position in shares of Cannae by 1,123.1% during the 2nd quarter. Bank of Montreal Can now owns 6,189 shares of the company’s stock valued at $180,000 after acquiring an additional 5,683 shares during the last quarter. Finally, First Bank & Trust bought a new stake in shares of Cannae during the 2nd quarter valued at $181,000. Hedge funds and other institutional investors own 80.55% of the company’s stock.
In other news, Director Richard N. Massey purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $28.49 per share, with a total value of $569,800.00. Following the acquisition, the director now directly owns 203,899 shares of the company’s stock, valued at $5,809,082.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is owned by insiders.
Shares of Cannae stock traded up $0.19 on Thursday, hitting $27.02. 16,869 shares of the company’s stock traded hands, compared to its average volume of 193,198. The firm’s 50-day moving average price is $28.54 and its two-hundred day moving average price is $26.76. The stock has a market capitalization of $1.95 billion, a PE ratio of 38.83 and a beta of 0.90. Cannae Holdings Inc has a one year low of $15.87 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.75.
Cannae (NYSE:CNNE) last issued its earnings results on Thursday, August 8th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) EPS. On average, analysts forecast that Cannae Holdings Inc will post -0.71 earnings per share for the current fiscal year.
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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