Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,291,626 shares of the company’s stock after selling 17,360 shares during the quarter. Geode Capital Management LLC owned 2.06% of Cannae worth $24,623,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Oakview Capital Management L.P. acquired a new stake in shares of Cannae during the 3rd quarter worth about $67,000. nVerses Capital LLC purchased a new position in Cannae during the second quarter worth about $71,000. Highbridge Capital Management LLC purchased a new position in Cannae during the second quarter worth about $91,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cannae during the third quarter valued at about $113,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Cannae by 10.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock valued at $236,000 after acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Analyst Ratings Changes

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

Cannae Price Performance

CNNE stock opened at $19.90 on Friday. The business’s fifty day moving average price is $20.42 and its 200 day moving average price is $19.44. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.25 billion, a PE ratio of -4.14 and a beta of 0.85.

Cannae (NYSE:CNNE) last issued 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). 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 for the quarter, compared to analyst estimates of $105.67 million. During the same period in the prior year, the firm earned ($2.18) earnings per share. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cannae Holdings, Inc. will post -3.14 EPS for the current 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 2.41%. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

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.