Oppenheimer Asset Management Inc. Purchases New Position in Cannae Holdings, Inc. $CNNE

Oppenheimer Asset Management Inc. purchased a new stake in Cannae Holdings, Inc. (NYSE:CNNE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,971 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CNNE. Bank of New York Mellon Corp grew its stake in Cannae by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 267,675 shares of the company’s stock valued at $4,906,000 after buying an additional 4,016 shares during the last quarter. Poehling Capital Management INC. grew its stake in Cannae by 6.9% in the 1st quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after buying an additional 50,025 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Cannae in the 1st quarter valued at about $762,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cannae in the 1st quarter valued at about $1,507,000. Finally, Private Management Group Inc. grew its stake in Cannae by 91.1% in the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company’s stock valued at $29,352,000 after buying an additional 763,324 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Insider Buying and Selling at Cannae

In other news, Director Frank R. Martire sold 26,478 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.43, for a total transaction of $487,989.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.90% of the company’s stock.

Cannae Stock Performance

Shares of NYSE:CNNE opened at $17.90 on Monday. The company’s 50 day moving average price is $18.62 and its two-hundred day moving average price is $19.16. Cannae Holdings, Inc. has a 12-month low of $15.91 and a 12-month high of $22.36. The firm has a market cap of $923.38 million, a PE ratio of -2.67 and a beta of 1.11. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05.

Cannae Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.15 per share. This is a boost from Cannae’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. Cannae’s payout ratio is currently -8.96%.

Analyst Ratings Changes

A number of brokerages have issued reports on CNNE. Royal Bank Of Canada increased their target price on shares of Cannae from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Tuesday, October 14th. Finally, Zacks Research upgraded shares of Cannae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cannae has a consensus rating of “Hold” and a consensus target price of $24.00.

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.