Should You Consider Selling Cannae Holdings (CNNE)?

Madison Funds, managed by Madison Investment Management, released its “Madison Mid Cap Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased by 9.6% compared to a 9.2% increase in the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Madison Funds highlighted stocks like Cannae Holdings, Inc. (NYSE:CNNE) in the Q4 2022 investor letter. Based in Las Vegas, Nevada, Cannae Holdings, Inc. (NYSE:CNNE) is an investment firm. On January 12, 2023, Cannae Holdings, Inc. (NYSE:CNNE) stock closed at $23.08 per share. One-month return of Cannae Holdings, Inc. (NYSE:CNNE) was 7.90%, and its shares lost 30.52% of their value over the last 52 weeks. Cannae Holdings, Inc. (NYSE:CNNE) has a market capitalization of $1.801 billion.

Madison Funds made the following comment about Cannae Holdings, Inc. (NYSE:CNNE) in its fourth-quarter 2022 investor letter:

Cannae Holdings, Inc. (NYSE:CNNE) is an investment holding company chaired by Bill Foley, who has a phenomenal 35-year track record of investing in undermanaged companies with a solid foundation and improving them. His more recent track record has not been as good as in the past, and given his advanced age, we decided that the key thesis point of relying on his long-term expertise no longer applied.”

Image by MayoFi from Pixabay

Cannae Holdings, Inc. (NYSE:CNNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Cannae Holdings, Inc. (NYSE:CNNE) at the end of the third quarter, and which was 19 in the previous quarter.

We discussed Cannae Holdings, Inc. (NYSE:CNNE) in another article and shared the list of best stocks to buy according to Angela Aldrich’s Bayberry Capital Partners. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.