Cannae Holdings, Inc. (NYSE:CNNE) Stake Raised by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC grew its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,803 shares of the company’s stock after purchasing an additional 3,837 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Cannae were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank bought a new stake in shares of Cannae during the second quarter valued at approximately $150,000. Point72 Hong Kong Ltd increased its stake in shares of Cannae by 66.4% during the first quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock valued at $63,000 after acquiring an additional 1,050 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Cannae during the second quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its stake in shares of Cannae by 70.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the company’s stock valued at $53,000 after acquiring an additional 1,177 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of Cannae by 22.2% during the third quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock valued at $69,000 after acquiring an additional 669 shares during the period. Institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lifted their target price on shares of Cannae from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th.

Insider Buying and Selling at Cannae

In other news, CEO Richard N. Massey sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the sale, the chief executive officer now owns 354,367 shares in the company, valued at approximately $7,377,920.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cannae news, CEO Richard N. Massey sold 23,050 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $20.57, for a total value of $474,138.50. Following the transaction, the chief executive officer now directly owns 404,367 shares of the company’s stock, valued at approximately $8,317,829.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard N. Massey sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 a total of 103,050 shares of company stock worth $2,104,039 over the last quarter. 7.40% of the stock is currently owned by insiders.

Cannae Price Performance

Shares of CNNE stock traded down $0.02 during trading hours on Friday, reaching $19.53. 228,107 shares of the company were exchanged, compared to its average volume of 765,351. Cannae Holdings, Inc. has a fifty-two week low of $15.93 and a fifty-two week high of $22.99. The stock’s fifty day moving average is $21.42 and its two-hundred day moving average is $19.76. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -4.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.65 and a quick ratio of 1.65.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.17). Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. The business had revenue of $119.30 million for the quarter, compared to the consensus estimate of $133.50 million. Sell-side analysts forecast that Cannae Holdings, Inc. will post -0.93 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.