Levin Capital Strategies L.P. Sells 41,476 Shares of Cannae Holdings, Inc. $CNNE

Levin Capital Strategies L.P. lessened its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,118 shares of the company’s stock after selling 41,476 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.24% of Cannae worth $3,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Poehling Capital Management INC. grew its position in Cannae by 6.9% in the 1st quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after acquiring an additional 50,025 shares during the last quarter. Jump Financial LLC bought a new position in Cannae in the 1st quarter valued at $261,000. Trexquant Investment LP bought a new position in Cannae in the 1st quarter valued at $795,000. Vanguard Group Inc. grew its position in Cannae by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 5,844,675 shares of the company’s stock valued at $107,133,000 after acquiring an additional 205,785 shares during the last quarter. Finally, Almitas Capital LLC bought a new position in shares of Cannae during the 1st quarter worth $2,633,000. Institutional investors own 88.12% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frank R. Martire sold 26,478 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNNE. Royal Bank Of Canada increased their price target on Cannae from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Zacks Research raised Cannae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Cannae Price Performance

CNNE opened at $17.58 on Tuesday. Cannae Holdings, Inc. has a 12-month low of $15.91 and a 12-month high of $22.36. The business’s fifty day simple moving average is $18.60 and its 200-day simple moving average is $19.16. The company has a market capitalization of $907.13 million, a price-to-earnings ratio of -2.62 and a beta of 1.11. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05.

Cannae Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This is an increase from Cannae’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. Cannae’s dividend payout ratio is -8.96%.

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.