Governors Lane LP Acquires New Position in Cannae Holdings Inc (CNNE)
Governors Lane LP acquired a new stake in Cannae Holdings Inc (NYSE:CNNE) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 436,756 shares of the company’s stock, valued at approximately $7,438,000.
A number of other large investors have also added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY bought a new stake in Cannae in the fourth quarter valued at approximately $659,000. Swiss National Bank bought a new stake in Cannae in the fourth quarter valued at approximately $1,849,000. California Public Employees Retirement System bought a new stake in Cannae in the fourth quarter valued at approximately $6,089,000. River Road Asset Management LLC bought a new stake in Cannae in the fourth quarter valued at approximately $54,050,000. Finally, Teacher Retirement System of Texas bought a new stake in Cannae in the fourth quarter valued at approximately $374,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.
Several research firms have issued reports on CNNE. TheStreet upgraded Cannae from a “c-” rating to a “b-” rating in a research note on Wednesday, December 13th. ValuEngine upgraded Cannae from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 5th. Finally, Zacks Investment Research lowered Cannae from a “hold” rating to a “sell” rating in a research note on Monday, January 8th.
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Cannae Company Profile
Cannae Holdings, Inc is a diversified holding company. The Company has investments in a variety of industries including Restaurants, Technology Enabled Healthcare Services, Financial Services and more. The Company holds majority and minority equity investment stakes in a number of entities, including Ceridian Holdings, LLC, American Blue Ribbon Holdings, and LLC and T-System Holding LLC.
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