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

Oppenheimer Asset Management Inc. raised its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 37.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,866 shares of the company’s stock after purchasing an additional 4,039 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cannae were worth $283,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC purchased a new stake in Cannae in the second quarter worth $18,611,000. AREX Capital Management LP boosted its holdings in shares of Cannae by 52.2% during the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock valued at $22,866,000 after buying an additional 432,260 shares in the last quarter. Jane Street Group LLC grew its position in shares of Cannae by 429.2% in the 1st quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock worth $8,411,000 after buying an additional 306,716 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Cannae by 45.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock worth $13,133,000 after acquiring an additional 225,161 shares in the last quarter. Finally, Rubric Capital Management LP lifted its position in Cannae by 17.8% during the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after acquiring an additional 216,031 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Cannae Stock Up 1.2 %

Shares of NYSE:CNNE opened at $20.55 on Thursday. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.26 and a beta of 0.87. The stock has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $19.18. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The company had revenue of $113.90 million for the quarter, compared to analysts’ expectations of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. Cannae’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.18) EPS. On average, research analysts anticipate that Cannae Holdings, Inc. will post -2.97 earnings per share for the current fiscal year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, December 17th. Cannae’s payout ratio is -9.98%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

About Cannae

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.