Redmont Wealth Advisors LLC Increases Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Redmont Wealth Advisors LLC boosted its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,803 shares of the company’s stock after purchasing an additional 3,837 shares during the period. Redmont Wealth Advisors LLC’s holdings in Cannae were worth $562,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CNNE. PNC Financial Services Group Inc. increased its stake in Cannae by 8.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,874 shares of the company’s stock worth $761,000 after purchasing an additional 2,356 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of Cannae during the first quarter valued at approximately $231,000. MetLife Investment Management LLC increased its stake in shares of Cannae by 58.8% during the first quarter. MetLife Investment Management LLC now owns 45,297 shares of the company’s stock valued at $1,084,000 after buying an additional 16,764 shares during the period. BlackRock Inc. increased its stake in shares of Cannae by 1.3% during the first quarter. BlackRock Inc. now owns 6,810,406 shares of the company’s stock valued at $162,903,000 after buying an additional 84,346 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cannae by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,826,358 shares of the company’s stock valued at $43,689,000 after buying an additional 101,368 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer boosted their target price on Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th.

Insider Transactions at Cannae

In other news, CEO Richard N. Massey sold 30,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the sale, the chief executive officer now directly owns 274,367 shares of the company’s stock, valued at $5,385,824.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Richard N. Massey sold 30,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total transaction of $588,900.00. Following the sale, the chief executive officer now directly owns 274,367 shares of the company’s stock, valued at $5,385,824.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard N. Massey sold 50,000 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total value of $1,041,000.00. Following the sale, the chief executive officer now directly owns 354,367 shares in the company, valued at $7,377,920.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,050 shares of company stock valued at $2,104,039. Insiders own 7.40% of the company’s stock.

Cannae Stock Down 0.1 %

CNNE stock traded down $0.02 during midday trading on Friday, hitting $19.53. The stock had a trading volume of 228,107 shares, compared to its average volume of 765,351. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -4.63 and a beta of 0.89. The business has a 50-day moving average of $21.42 and a two-hundred day moving average of $19.76. Cannae Holdings, Inc. has a 52-week low of $15.93 and a 52-week high of $22.99. 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 issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.17). The firm had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $133.50 million. Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. As a group, equities research 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.