Rhumbline Advisers Sells 8,035 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Rhumbline Advisers lowered its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 8.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 88,284 shares of the company’s stock after selling 8,035 shares during the period. Rhumbline Advisers owned 0.14% of Cannae worth $1,618,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cannae in the fourth quarter valued at approximately $76,000. Nomura Asset Management Co. Ltd. lifted its holdings in Cannae by 133.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock valued at $85,000 after purchasing an additional 2,436 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock valued at $104,000 after purchasing an additional 1,198 shares during the last quarter. Ameriflex Group Inc. bought a new position in Cannae during the fourth quarter worth $122,000. Finally, Bfsg LLC acquired a new position in shares of Cannae in the fourth quarter valued at $134,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Stock Performance

Shares of NYSE CNNE opened at $19.82 on Wednesday. Cannae Holdings, Inc. has a one year low of $15.92 and a one year high of $22.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.19 and a quick ratio of 4.19. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.77 and a beta of 1.00. The stock’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $18.81.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). The business had revenue of $103.20 million during the quarter, compared to analyst estimates of $105.30 million. Cannae had a negative net margin of 73.64% and a negative return on equity of 4.86%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. On average, equities analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae announced that its board has initiated a stock repurchase program on Tuesday, March 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.48 annualized dividend and a yield of 2.42%. Cannae’s dividend payout ratio is presently -9.13%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNNE. Royal Bank Of Canada restated an “outperform” rating and set a $22.00 target price on shares of Cannae in a research note on Wednesday, May 14th. Oppenheimer lowered their price target on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 7th.

Cannae 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.