Creative Planning Trims Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Creative Planning reduced its position in Cannae Holdings, Inc. (NYSE:CNNE) by 46.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,279 shares of the company’s stock after selling 19,143 shares during the quarter. Creative Planning’s holdings in Cannae were worth $404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its position in Cannae by 17.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock worth $25,945,000 after purchasing an additional 216,031 shares during the period. AREX Capital Management LP grew its stake in Cannae by 52.2% in the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after acquiring an additional 432,260 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Cannae in the 2nd quarter worth about $18,611,000. Thompson Siegel & Walmsley LLC grew its stake in 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, Poehling Capital Management INC. grew its stake in Cannae by 0.8% in the 2nd quarter. Poehling Capital Management INC. now owns 715,043 shares of the company’s stock worth $12,971,000 after acquiring an additional 6,024 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Price Performance

Shares of CNNE stock opened at $18.94 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.19 billion, a P/E ratio of -3.48 and a beta of 0.88. The company’s 50-day simple moving average is $19.13 and its two-hundred day simple moving average is $19.24. Cannae Holdings, Inc. has a one year low of $15.93 and a one year high of $22.99.

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

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Monday, September 16th. Cannae’s payout ratio is -8.82%.

Cannae Company 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.