Swiss National Bank Sells 22,300 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Swiss National Bank trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,394 shares of the company’s stock after selling 22,300 shares during the quarter. Swiss National Bank owned 0.19% of Cannae worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CNNE. Newtyn Management LLC boosted its position in shares of Cannae by 42.7% in the third quarter. Newtyn Management LLC now owns 2,868,411 shares of the company’s stock valued at $53,467,000 after acquiring an additional 857,748 shares during the period. Comerica Bank raised its stake in shares of Cannae by 38,345.3% in the third quarter. Comerica Bank now owns 276,806 shares of the company’s stock valued at $5,160,000 after purchasing an additional 276,086 shares in the last quarter. Shayne & Jacobs LLC acquired a new position in shares of Cannae in the third quarter valued at $1,528,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cannae in the third quarter valued at $1,361,000. Finally, DAVENPORT & Co LLC raised its stake in shares of Cannae by 1.3% in the fourth quarter. DAVENPORT & Co LLC now owns 4,758,233 shares of the company’s stock valued at $92,833,000 after purchasing an additional 62,486 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cannae news, CEO Richard N. Massey sold 50,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the transaction, the chief executive officer now directly owns 354,367 shares in the company, valued at $7,377,920.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard N. Massey sold 23,050 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the sale, the chief executive officer now directly owns 404,367 shares in the company, valued at $8,317,829.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard N. Massey sold 50,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total value of $1,041,000.00. Following the completion of the sale, the chief executive officer now owns 354,367 shares of the company’s stock, valued at $7,377,920.94. The disclosure for this sale can be found here. Insiders sold 103,050 shares of company stock worth $2,104,039 over the last three months. 10.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Cannae Stock Performance

Cannae stock opened at $19.85 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.32 and a quick ratio of 3.06. The stock has a fifty day moving average price of $20.85 and a two-hundred day moving average price of $20.21. Cannae Holdings, Inc. has a 52-week low of $15.93 and a 52-week high of $22.99. The firm has a market capitalization of $1.25 billion, a P/E ratio of -3.65 and a beta of 0.91.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.94). Cannae had a negative return on equity of 16.50% and a negative net margin of 74.62%. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $126.23 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The business’s revenue was down 28.3% compared to the same quarter last year. As a group, analysts anticipate that Cannae Holdings, Inc. will post -1.26 EPS for the current fiscal year.

Cannae Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 14th.

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.