BW Gestao de Investimentos Ltda. Purchases New Position in Cannae Holdings, Inc. $CNNE

BW Gestao de Investimentos Ltda. purchased a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 71,015 shares of the company’s stock, valued at approximately $1,300,000. BW Gestao de Investimentos Ltda. owned about 0.14% of Cannae as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Cannae by 6.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,189 shares of the company’s stock worth $254,000 after purchasing an additional 725 shares during the last quarter. CWM LLC boosted its position in shares of Cannae by 25.0% during the third quarter. CWM LLC now owns 4,065 shares of the company’s stock valued at $74,000 after buying an additional 812 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Cannae by 0.5% during the second quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock worth $5,574,000 after buying an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after buying an additional 1,405 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Cannae by 66.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock valued at $87,000 after buying an additional 1,669 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. Royal Bank Of Canada reduced their target price on shares of Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.00.

Cannae Price Performance

Shares of NYSE CNNE opened at $12.06 on Tuesday. Cannae Holdings, Inc. has a twelve month low of $11.24 and a twelve month high of $21.96. The stock’s 50 day moving average price is $14.30 and its 200-day moving average price is $16.41. The company has a market capitalization of $558.51 million, a PE ratio of -1.35 and a beta of 1.12. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Cannae (NYSE:CNNE) last released its earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The business had revenue of $103.30 million during the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.74) earnings per share. On average, equities analysts anticipate that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, March 17th. Cannae’s dividend payout ratio is -6.73%.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.