Almitas Capital LLC Has $10.19 Million Stock Holdings in Cannae Holdings, Inc. $CNNE

Almitas Capital LLC raised its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 73.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 556,688 shares of the company’s stock after purchasing an additional 235,702 shares during the quarter. Cannae accounts for about 2.3% of Almitas Capital LLC’s portfolio, making the stock its 8th biggest position. Almitas Capital LLC owned approximately 1.13% of Cannae worth $10,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Rubric Capital Management LP grew its holdings in Cannae by 41.3% during the second quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock worth $43,907,000 after buying an additional 615,616 shares in the last quarter. Carronade Capital Management LP lifted its stake in Cannae by 5.7% during the 2nd quarter. Carronade Capital Management LP now owns 3,189,027 shares of the company’s stock valued at $66,491,000 after acquiring an additional 173,380 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Cannae by 35.3% during the 2nd quarter. Alberta Investment Management Corp now owns 575,000 shares of the company’s stock valued at $11,989,000 after acquiring an additional 150,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cannae by 83.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,963 shares of the company’s stock worth $5,309,000 after acquiring an additional 132,166 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in Cannae by 5.9% during the 3rd quarter. Private Management Group Inc. now owns 1,679,660 shares of the company’s stock worth $30,755,000 after acquiring an additional 94,002 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CNNE. Royal Bank Of Canada lowered their target price on shares of Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cannae currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Cannae Stock Up 1.5%

CNNE stock opened at $11.51 on Friday. The stock has a market cap of $532.97 million, a P/E ratio of -1.29 and a beta of 1.11. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $13.97 and its two-hundred day simple moving average is $16.23. Cannae Holdings, Inc. has a 1-year low of $11.24 and a 1-year high of $21.96.

Cannae (NYSE:CNNE) last announced 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 for the quarter, compared to analysts’ expectations of $102.70 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.74) earnings per share. Analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, March 17th. Cannae’s dividend payout ratio (DPR) 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.