Strategic Financial Concepts LLC Takes $281,000 Position in Cannae Holdings, Inc. (NYSE:CNNE)

Strategic Financial Concepts LLC bought a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,126 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Cannae by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock worth $8,666,000 after acquiring an additional 44,691 shares during the period. Barclays PLC grew its stake in Cannae by 221.9% during the 3rd quarter. Barclays PLC now owns 95,378 shares of the company’s stock worth $1,818,000 after purchasing an additional 65,749 shares in the last quarter. Spire Wealth Management purchased a new stake in Cannae during the 4th quarter worth about $45,000. State Street Corp raised its position in Cannae by 1.6% in the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company’s stock valued at $30,598,000 after purchasing an additional 25,403 shares in the last quarter. Finally, Private Management Group Inc. purchased a new position in shares of Cannae in the 4th quarter valued at about $16,643,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their target price on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th.

Cannae Trading Down 1.2 %

NYSE:CNNE opened at $19.39 on Thursday. 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. The stock has a market cap of $1.22 billion, a P/E ratio of -4.03 and a beta of 0.86. The stock has a 50-day simple moving average of $19.74 and a 200-day simple moving average of $19.69.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates 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 net margin of 68.61% and a negative return on equity of 8.26%. Cannae’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.18) earnings per share. As a group, analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae 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.