Highbridge Capital Management LLC Acquires New Shares in Cannae Holdings, Inc. (NYSE:CNNE)

Highbridge Capital Management LLC bought a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,000 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC grew its stake in shares of Cannae by 1,616.0% in the second quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after acquiring an additional 1,309 shares during the period. Principal Securities Inc. purchased a new stake in Cannae in the 4th quarter worth approximately $36,000. EntryPoint Capital LLC raised its stake in Cannae by 48.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after acquiring an additional 535 shares during the period. Innealta Capital LLC purchased a new position in Cannae during the second quarter valued at approximately $48,000. Finally, nVerses Capital LLC bought a new position in shares of Cannae in the second quarter worth approximately $71,000. Institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

Shares of NYSE CNNE opened at $19.11 on Thursday. The stock has a market cap of $1.20 billion, a PE ratio of -3.51 and a beta of 0.88. Cannae Holdings, Inc. has a 1 year low of $15.93 and a 1 year high of $22.99. The firm has a fifty day moving average price of $19.41 and a 200-day moving average price of $19.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The business had revenue of $118.00 million during the quarter, compared to analysts’ expectations of $112.00 million. During the same quarter in the previous year, the company posted ($1.16) EPS. The company’s quarterly revenue was down 22.8% on a year-over-year basis. Equities analysts anticipate that Cannae Holdings, Inc. will post -3.03 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, September 16th. Cannae’s dividend payout ratio (DPR) is presently -8.82%.

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.