Fmr LLC Acquires 397,352 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Fmr LLC raised its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,653,854 shares of the company’s stock after purchasing an additional 397,352 shares during the quarter. Fmr LLC owned 4.23% of Cannae worth $50,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Driehaus Capital Management LLC purchased a new stake in shares of Cannae in the second quarter valued at $18,611,000. AREX Capital Management LP lifted its stake in Cannae by 52.2% in the second quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after purchasing an additional 432,260 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Cannae by 45.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock valued at $13,133,000 after buying an additional 225,161 shares during the period. Rubric Capital Management LP grew its stake in shares of Cannae by 17.8% during the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after buying an additional 216,031 shares during the last quarter. Finally, Factorial Partners LLC grew its stake in shares of Cannae by 242.6% during the second quarter. Factorial Partners LLC now owns 184,177 shares of the company’s stock valued at $3,341,000 after buying an additional 130,422 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Cannae Stock Performance

Shares of Cannae stock opened at $20.80 on Friday. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99. The company has a market capitalization of $1.30 billion, a PE ratio of -4.32 and a beta of 0.85. The company has a 50-day simple moving average of $19.98 and a two-hundred day simple moving average of $19.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same quarter last year, the firm posted ($2.18) earnings per share. Cannae’s revenue was down 20.7% compared to the same quarter last year. Research analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Dividend Announcement

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 dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 2.31%. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

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.