Oppenheimer Has Lowered Expectations for Cannae (NYSE:CNNE) Stock Price

Cannae (NYSE:CNNE) had its target price cut by research analysts at Oppenheimer from $27.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 24.12% from the stock’s current price.

Separately, Royal Bank of Canada reduced their target price on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th.

Cannae Stock Down 2.3 %

Shares of Cannae stock traded down $0.43 during trading on Friday, reaching $17.73. The stock had a trading volume of 215,930 shares, compared to its average volume of 376,406. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.70 and a beta of 0.86. Cannae has a 52 week low of $16.94 and a 52 week high of $22.99. The stock has a fifty day moving average price of $19.41 and a two-hundred day moving average price of $19.68.

Hedge Funds Weigh In On Cannae

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management acquired a new position in shares of Cannae during the 4th quarter worth about $45,000. Oakview Capital Management L.P. bought a new stake in Cannae in the third quarter valued at approximately $67,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cannae in the fourth quarter valued at approximately $76,000. R Squared Ltd bought a new position in shares of Cannae during the 4th quarter worth approximately $78,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Cannae by 133.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock valued at $85,000 after acquiring an additional 2,436 shares during the period. 88.12% of the stock is owned by institutional investors.

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.