Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 98.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,161 shares of the company's stock after selling 2,129,574 shares during the period. DAVENPORT & Co LLC's holdings in Cannae were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakview Capital Management L.P. purchased a new stake in Cannae during the 3rd quarter worth approximately $67,000. R Squared Ltd purchased a new stake in shares of Cannae during the fourth quarter worth approximately $78,000. Blue Trust Inc. raised its stake in Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after purchasing an additional 4,062 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Cannae in the 3rd quarter valued at $113,000. Finally, BNP Paribas Financial Markets boosted its stake in Cannae by 10.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company's stock worth $236,000 after purchasing an additional 1,150 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price target on shares of Cannae from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th.

Cannae Price Performance

Shares of CNNE remained flat at $19.63 during mid-day trading on Tuesday. 256,489 shares of the company were exchanged, compared to its average volume of 270,314. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The company has a 50-day moving average of $19.77 and a two-hundred day moving average of $19.69. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -4.08 and a beta of 0.86.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The company had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same period in the prior year, the business posted ($2.18) earnings per share. The firm's revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

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.