CNNE (Update)

Cannae Holdings Inc

TMT


Presented:05/03/2021
Price:$40.28
Cap:$3.69B
Current Price:$18.45
Cap:$1.16B

Presented

Date05/03/2021
Price$40.28
Market Cap$3.69B
Ent Value$3.59B
P/E Ratio1.89x
Book Value$41.24
Div Yield0%
Shares O/S91.65M
Ave Daily Vol1,066,283
Short Int3.94%

Current

Price$18.45
Market Cap$1.16B
Cannae Holdings, Inc. engages in the management and operation of a group of companies and investments. It operates through the following segments: Dun & Bradstreet, Optimal Blue, Restaurant Group, and Corporate and Other. The Dun & Bradstreet segment offers business decision data and analytics. The Optimal Blue segment involves the secondary market solutions and actionable data services. The Restaurant Group segment consists of the operations of O'Charley's, 99 Restaurants, Legendary Baking Holdings I LLC, and VIBSQ Holdco LLC. The Corporate and Other segment covers the share in the operations of certain controlled portfolio companies and other equity investments. The company is headquartered in Las Vegas, NV.

Please note, this is an update to Cannae Holdings Inc (CNNE) - Long, which was first presented on 1/16/2019

Publicly traded companies mentioned herein: Black Knight Inc (BKI), Cannae Holdings Inc (CNNE), Ceridian HCM Holding Inc (CDAY, Dun & Bradstreet Holdings Inc (DNB), Paysafe Ltd (PSFE), Foley Trasimene Acquisition Corp (WPF)

Highlights

The presenter is long shares of Cannae Holdings Inc (CNNE), an investment holding company led by Bill Foley that the presenter feels has an attractive portfolio. CNNE trades at ~$40 per share (~$3.7B market cap), which is 77% of NAV (net of fees and taxes). Over the next 12 – 18 months, he expects NAV to grow ~30% and the gap between CNNE’s valuation and its NAV to close, resulting in ~60% upside to the stock.

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Idea Discussion

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