Cannae Holdings, Inc. (NYSE:CNNE) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in Cannae Holdings, Inc. (NYSE:CNNE) by 6.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,089 shares of the company’s stock after acquiring an additional 777 shares during the period. Park Avenue Securities LLC’s holdings in Cannae were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Continental Advisors LLC increased its stake in shares of Cannae by 0.3% during the fourth quarter. Continental Advisors LLC now owns 239,623 shares of the company’s stock worth $4,759,000 after purchasing an additional 624 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cannae by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company’s stock worth $637,000 after purchasing an additional 1,151 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Cannae by 29.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock worth $104,000 after purchasing an additional 1,198 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Cannae by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 34,432 shares of the company’s stock worth $684,000 after purchasing an additional 1,883 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Cannae by 133.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock worth $85,000 after purchasing an additional 2,436 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNNE shares. Oppenheimer cut their target price on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Cannae in a research note on Wednesday, May 14th.

Cannae Price Performance

NYSE:CNNE opened at $19.90 on Tuesday. Cannae Holdings, Inc. has a one year low of $15.92 and a one year high of $22.36. The stock has a market cap of $1.25 billion, a PE ratio of -4.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a 50 day moving average price of $18.11 and a 200 day moving average price of $18.82.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The company had revenue of $103.20 million for the quarter, compared to analysts’ expectations of $105.30 million. During the same quarter in the previous year, the business posted ($1.27) EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Equities research analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.41%. Cannae’s payout ratio is -9.13%.

Cannae announced that its board has authorized a stock repurchase plan on Tuesday, March 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cannae Company Profile

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.