Charles Schwab Investment Management Inc. Sells 74,138 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Charles Schwab Investment Management Inc. cut its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 615,152 shares of the company’s stock after selling 74,138 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.98% of Cannae worth $11,725,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNNE. River Road Asset Management LLC increased its holdings in shares of Cannae by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock worth $107,977,000 after buying an additional 50,150 shares during the period. Rubric Capital Management LP increased its stake in Cannae by 17.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock worth $25,945,000 after purchasing an additional 216,031 shares during the period. AREX Capital Management LP lifted its position in Cannae by 52.2% in the second quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock valued at $22,866,000 after purchasing an additional 432,260 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Cannae during the second quarter valued at approximately $18,611,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Cannae by 45.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock valued at $13,133,000 after purchasing an additional 225,161 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Cannae Stock Up 0.1 %

NYSE CNNE opened at $20.80 on Monday. The business’s 50-day moving average is $19.98 and its 200 day moving average is $19.26. The stock has a market capitalization of $1.30 billion, a PE ratio of -4.32 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same period in the prior year, the business earned ($2.18) EPS. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. Sell-side analysts forecast that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. Cannae’s dividend payout ratio is presently -9.98%.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.