Levin Capital Strategies L.P. Cuts Stock Position in Cannae Holdings, Inc. $CNNE

Levin Capital Strategies L.P. decreased its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 27.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 109,658 shares of the company’s stock after selling 41,460 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Cannae were worth $2,008,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CNNE. Quantbot Technologies LP acquired a new stake in Cannae during the 2nd quarter worth approximately $62,000. CWM LLC increased its position in shares of Cannae by 40.4% during the second quarter. CWM LLC now owns 3,253 shares of the company’s stock worth $68,000 after acquiring an additional 936 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Cannae by 66.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock valued at $87,000 after acquiring an additional 1,669 shares in the last quarter. AlphaQuest LLC boosted its holdings in Cannae by 62.0% in the third quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock valued at $106,000 after purchasing an additional 2,212 shares during the period. Finally, Entropy Technologies LP purchased a new position in Cannae in the second quarter valued at $212,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNNE has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price target on Cannae from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cannae presently has an average rating of “Hold” and an average target price of $20.50.

Cannae Trading Up 1.8%

CNNE opened at $13.35 on Thursday. Cannae Holdings, Inc. has a one year low of $12.98 and a one year high of $21.96. The company has a market cap of $657.89 million, a P/E ratio of -1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.03 and a current ratio of 2.03. The business’s 50-day simple moving average is $15.30 and its 200-day simple moving average is $17.04.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.