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0 0 0.00025562372188134 0.00025562372188134 0.000511247443762679 0.00306748466257662 0.00204498977505108 0.00204498977505108
Stock impact report

Cannae Holdings: Still Available At A More Attractive Discount [Seeking Alpha]

Cannae Holdings, Inc. (CNNE) 
Last cannae holdings, inc. earnings: 11/12 06:25 am Check Earnings Report
US:NYSE Investor Relations: cannaeholdings.com
Company Research Source: Seeking Alpha
Summary I argued back in July that Q2 results from Cannae Holdings ( CNNE ) would prove a catalyst for the stock. The value of Cannae's stake in Ceridian ( CDAY ), which went public in April, would be clearer. And the relative valuation assigned to Cannae's other assets - including medical services provider T-System and 55% ownership of several restaurant chains - would become more obvious to the market. Actually, it seems like the reverse has happened: Source: Author from CDAY filings and NASDAQ data. Figure is CNNE market cap less value of CNNE stake taxed at 21% above $390M cost basis CNNE data by YCharts The paper value of Cannae's stake in Ceridian - $1.435 billion as of Tuesday's close - now is more than Cannae's enterprise value of $1.304 billion. Even adjusting for taxes, Cannae's other assets are available for $171 million - and that includes pro forma net cash of some $138 million coming out of Q2 and a business acquired for $20 Show less Read more
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