Oppenheimer Asset Management Inc. Trims Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Oppenheimer Asset Management Inc. trimmed its position in Cannae Holdings, Inc. (NYSE:CNNE) by 23.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,827 shares of the company’s stock after selling 3,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cannae were worth $196,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Cannae during the fourth quarter valued at approximately $8,324,000. Rubric Capital Management LP purchased a new position in Cannae during the fourth quarter valued at approximately $7,081,000. Jane Street Group LLC raised its position in Cannae by 429.2% during the first quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock valued at $8,411,000 after acquiring an additional 306,716 shares in the last quarter. Poehling Capital Management INC. raised its position in Cannae by 59.4% during the first quarter. Poehling Capital Management INC. now owns 709,019 shares of the company’s stock valued at $15,769,000 after acquiring an additional 264,213 shares in the last quarter. Finally, EJF Capital LLC purchased a new position in Cannae during the first quarter valued at approximately $3,214,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cannae Stock Down 0.2 %

Shares of CNNE stock opened at $19.31 on Monday. The stock has a 50 day moving average of $19.43 and a 200 day moving average of $19.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.21 billion, a P/E ratio of -3.55 and a beta of 0.88. Cannae Holdings, Inc. has a twelve month low of $15.93 and a twelve month high of $22.99.

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

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, September 16th. Cannae’s payout ratio is currently -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.