Private Management Group Inc. Takes $16.64 Million Position in Cannae Holdings, Inc. (NYSE:CNNE)

Private Management Group Inc. purchased a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 838,010 shares of the company's stock, valued at approximately $16,643,000. Private Management Group Inc. owned 1.34% of Cannae as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CNNE. Spire Wealth Management bought a new stake in shares of Cannae in the fourth quarter valued at $45,000. R Squared Ltd purchased a new stake in Cannae in the 4th quarter worth about $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 acquiring an additional 4,062 shares during the period. Crescent Grove Advisors LLC lifted its holdings in Cannae by 1.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 324,220 shares of the company's stock valued at $6,439,000 after purchasing an additional 3,957 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Cannae by 9.9% during the fourth quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock worth $399,000 after purchasing an additional 1,817 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cannae Stock Performance

Shares of Cannae stock traded up $0.27 during trading hours on Thursday, reaching $19.88. The company had a trading volume of 246,266 shares, compared to its average volume of 263,649. The firm has a market cap of $1.25 billion, a PE ratio of -4.13 and a beta of 0.87. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The business has a fifty day simple moving average of $19.89 and a 200 day simple moving average of $19.69.

Cannae (NYSE:CNNE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.22) EPS 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 business had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. During the same quarter last year, the company earned ($2.18) EPS. The firm's revenue was down 20.7% compared to the same quarter last year. On average, 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.