Entropy Technologies LP Invests $304,000 in Cannae Holdings, Inc. (NYSE:CNNE)

Entropy Technologies LP purchased a new position in Cannae Holdings, Inc. (NYSE:CNNE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,291 shares of the company’s stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Cannae by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock worth $8,666,000 after buying an additional 44,691 shares in the last quarter. Barclays PLC raised its stake in Cannae by 221.9% during the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock worth $1,818,000 after purchasing an additional 65,749 shares during the period. Spire Wealth Management purchased a new position in Cannae during the fourth quarter worth about $45,000. State Street Corp raised its stake in Cannae by 1.6% during the third quarter. State Street Corp now owns 1,605,351 shares of the company’s stock worth $30,598,000 after purchasing an additional 25,403 shares during the period. Finally, Private Management Group Inc. purchased a new position in Cannae during the fourth quarter worth about $16,643,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Cannae Price Performance

Shares of CNNE stock opened at $19.61 on Friday. 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 firm’s 50-day moving average is $19.70 and its two-hundred day moving average is $19.69. Cannae Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $22.99. The company has a market capitalization of $1.23 billion, a PE ratio of -4.08 and a beta of 0.86.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $105.67 million. During the same period last year, the business earned ($2.18) earnings per share. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. Analysts predict that Cannae Holdings, Inc. will post -3.14 earnings per share for the current 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.