Jane Street Group LLC Decreases Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Jane Street Group LLC cut its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 35.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,080 shares of the company’s stock after selling 36,250 shares during the quarter. Jane Street Group LLC owned about 0.10% of Cannae worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNNE. Oakview Capital Management L.P. bought a new position in shares of Cannae during the 3rd quarter valued at $67,000. nVerses Capital LLC bought a new stake in shares of Cannae during the 2nd quarter valued at about $71,000. Highbridge Capital Management LLC purchased a new position in shares of Cannae during the 2nd quarter worth approximately $91,000. DekaBank Deutsche Girozentrale bought a new position in Cannae in the third quarter worth $113,000. Finally, BNP Paribas Financial Markets boosted its stake in Cannae by 10.2% during the third quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock worth $236,000 after acquiring an additional 1,150 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cannae Trading Down 0.6 %

Shares of NYSE:CNNE opened at $19.90 on Friday. The stock’s 50-day simple moving average is $20.42 and its two-hundred day simple moving average is $19.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -4.14 and a beta of 0.85. Cannae Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $22.99.

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

Cannae Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.12 dividend. The ex-dividend date 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 is presently -9.98%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their price target on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research 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.