Cannae (CNNE) Scheduled to Post Earnings on Monday

Posted by MarketBeat News on Aug 6th, 2022

Cannae (NYSE:CNNE – Get Rating) will be releasing its earnings results after the market closes on Monday, August 8th. Analysts expect Cannae to post earnings of ($0.13) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Cannae (NYSE:CNNE – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($2.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.68). The business had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $193.00 million. Cannae had a negative return on equity of 8.92% and a negative net margin of 40.87%. During the same period last year, the company posted ($2.55) earnings per share. On average, analysts expect Cannae to post $-2 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cannae Price Performance

NYSE:CNNE opened at $23.20 on Friday. The firm has a 50-day moving average of $20.18 and a two-hundred day moving average of $23.09. The stock has a market cap of $1.97 billion, a P/E ratio of -6.55 and a beta of 0.80. Cannae has a 1-year low of $17.11 and a 1-year high of $36.50.

Analyst Upgrades and Downgrades

Separately, Oppenheimer decreased their price objective on shares of Cannae from $41.00 to $36.00 in a research report on Tuesday, May 10th.

Insider Buying and Selling at Cannae

In other news, major shareholder Cannae Holdings, Inc. sold 22,079 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $11.01, for a total value of $243,089.79. Following the sale, the insider now owns 25,666,724 shares in the company, valued at approximately $282,590,631.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,959,929 shares of company stock valued at $109,675,055 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Cannae

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its stake in Cannae by 66.4% during the first quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock worth $63,000 after acquiring an additional 1,050 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in Cannae during the first quarter worth about $231,000. Captrust Financial Advisors raised its stake in Cannae by 20.5% during the first quarter. Captrust Financial Advisors now owns 11,305 shares of the company’s stock worth $270,000 after acquiring an additional 1,925 shares during the period. PDT Partners LLC acquired a new stake in shares of Cannae in the first quarter valued at approximately $300,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Cannae by 8.0% in the first quarter. PNC Financial Services Group Inc. now owns 31,874 shares of the company’s stock valued at $761,000 after purchasing an additional 2,356 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

About Cannae

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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 is based in Las Vegas, Nevada.