Oppenheimer Cuts Cannae (NYSE:CNNE) Price Target to $22.00

Cannae (NYSE:CNNE) had its price objective reduced by Oppenheimer from $27.00 to $22.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Royal Bank of Canada cut their target price on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th.

Cannae Trading Down 2.0 %

NYSE CNNE opened at $17.79 on Friday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.70 and a beta of 0.86. The stock’s 50 day moving average price is $19.37 and its two-hundred day moving average price is $19.67. 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 has a 52 week low of $16.94 and a 52 week high of $22.99.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, March 17th. Cannae’s payout ratio is -10.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNNE. Continental Advisors LLC grew its holdings in Cannae by 0.3% in the 4th quarter. Continental Advisors LLC now owns 239,623 shares of the company’s stock valued at $4,759,000 after buying an additional 624 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Cannae by 10.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock valued at $236,000 after acquiring an additional 1,150 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cannae by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company’s stock valued at $637,000 after acquiring an additional 1,151 shares during the period. Global Retirement Partners LLC lifted its position in shares of Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock valued at $104,000 after acquiring an additional 1,198 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Cannae by 9.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company’s stock valued at $384,000 after acquiring an additional 1,789 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

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 was founded in 2014 and is based in Las Vegas, Nevada.