Cannae (CNNE) Upgraded by Piper Jaffray Companies to Overweight
Piper Jaffray Companies upgraded shares of Cannae (NYSE:CNNE) from a neutral rating to an overweight rating in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has $25.00 target price on the stock.
A number of other research firms have also issued reports on CNNE. TheStreet upgraded Cannae from a d+ rating to a c- rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded Cannae from a sell rating to a hold rating in a research note on Thursday, September 6th.
Shares of NYSE CNNE traded up $0.87 during trading on Friday, reaching $18.07. 1,024,316 shares of the stock traded hands, compared to its average volume of 306,012. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.33. Cannae has a 52-week low of $16.16 and a 52-week high of $21.90. The stock has a market capitalization of $1.31 billion, a PE ratio of 11.73 and a beta of 0.73.
In related news, Director Richard N. Massey acquired 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average cost of $18.70 per share, for a total transaction of $729,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in shares of Cannae by 386.1% during the 2nd quarter. Millennium Management LLC now owns 373,622 shares of the company’s stock valued at $6,931,000 after purchasing an additional 296,765 shares during the period. Trexquant Investment LP bought a new position in Cannae in the 2nd quarter worth about $431,000. Laurel Wealth Advisors Inc. bought a new position in Cannae in the 2nd quarter worth about $271,000. Rhumbline Advisers increased its stake in Cannae by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 69,858 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,491 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Cannae in the 2nd quarter worth about $109,000. Institutional investors own 78.69% of the company’s stock.
Cannae Company 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 is based in Las Vegas, Nevada.
Recommended Story: What is Cost of Debt?
Receive News & Ratings for Cannae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cannae and related companies with MarketBeat.com's FREE daily email newsletter.