Cannae Holdings Inc. (NYSE: CNNE) stock fell -0.52% on Thursday to $19.31 against a previous-day closing price of $19.41. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.39 million shares. During the session, the Restaurants company that operates in wider Consumer Cyclical sector, reached to the highest price of $19.54 whereas the lowest price it dropped to was $19.20. The 52-week range on CNNE shows that it touched its highest point at $25.74 and its lowest point at $17.11 during that stretch. It currently has a 1-year price target of $33.06. Beta for the stock currently stands at 0.86.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNNE was down-trending over the past week, with a drop of -0.72%, but this was up by 9.22% over a month. Three-month performance dropped to -14.56% while six-month performance fell -15.86%. The stock gained 2.93% in the past year, while it has lost -6.49% so far this year. A look at the trailing 12-month EPS for CNNE yields -2.16 with Next year EPS estimates of -0.20. For the next quarter, that number is -0.06. This implies an EPS growth rate of -64.70% for this year and 16.70% for next year.
Float and Shares Shorts:
At present, 76.10 million CNNE shares are outstanding with a float of 72.79 million shares on hand for trading. On May 14, 2023, short shares totaled 1.61 million, which was 2.10% higher than short shares on Apr 13, 2023. In addition to Mr. Richard Nelson Massey as the firm’s CEO & Director, Mr. Bryan D. Coy serves as its Chief Financial Officer.
Through their ownership of 86.49% of CNNE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.23% of CNNE, in contrast to 45.71% held by mutual funds. Shares owned by individuals account for 40.79%. As the largest shareholder in CNNE with 10.11% of the stake, The Vanguard Group, Inc. holds 7,708,043 shares worth 7,708,043. A second-largest stockholder of CNNE, Davenport & Co. LLC, holds 6,208,877 shares, controlling over 8.14% of the firm’s shares. River Road Asset Management LLC is the third largest shareholder in CNNE, holding 5,630,458 shares or 7.38% stake. With a 3.09% stake in CNNE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,357,327 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.55% of CNNE stock, is the second-largest Mutual Fund holder. It holds 1,941,751 shares valued at 35.42 million. iShares Russell 2000 ETF holds 1.93% of the stake in CNNE, owning 1,474,145 shares worth 26.89 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CNNE reported revenue of $174.50M and operating income of -$27.00M. The EBITDA in the recently reported quarter was -$209.20M and diluted EPS was -$3.15.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNNE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNNE analysts setting a high price target of $39.00 and a low target of $28.00, the average target price over the next 12 months is $33.07. Based on these targets, CNNE could surge 101.97% to reach the target high and rise by 45.0% to reach the target low. Reaching the average price target will result in a growth of 71.26% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CNNE stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 231,693 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 275,802 while 4,373 shares were sold.