Private Management Group Inc. Buys 94,002 Shares of Cannae Holdings, Inc. $CNNE

Private Management Group Inc. increased its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,679,660 shares of the company’s stock after buying an additional 94,002 shares during the period. Private Management Group Inc.’s holdings in Cannae were worth $30,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. River Road Asset Management LLC boosted its holdings in Cannae by 0.9% in the second quarter. River Road Asset Management LLC now owns 4,719,243 shares of the company’s stock worth $100,897,000 after purchasing an additional 40,367 shares during the last quarter. Carronade Capital Management LP raised its stake in Cannae by 5.7% during the 2nd quarter. Carronade Capital Management LP now owns 3,189,027 shares of the company’s stock valued at $66,491,000 after buying an additional 173,380 shares during the last quarter. Rubric Capital Management LP raised its stake in Cannae by 41.3% during the 2nd quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after buying an additional 615,616 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cannae by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,347,741 shares of the company’s stock valued at $28,104,000 after buying an additional 24,902 shares during the period. Finally, Poehling Capital Management INC. lifted its holdings in shares of Cannae by 1.5% during the 3rd quarter. Poehling Capital Management INC. now owns 835,279 shares of the company’s stock valued at $15,294,000 after buying an additional 12,640 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

Shares of NYSE CNNE opened at $11.51 on Friday. Cannae Holdings, Inc. has a 12-month low of $11.24 and a 12-month high of $21.96. The firm has a market capitalization of $533.03 million, a price-to-earnings ratio of -1.29 and a beta of 1.11. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $13.97 and a 200 day moving average of $16.25.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The business had revenue of $103.30 million during the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.74) earnings per share. On average, research analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, March 17th. Cannae’s dividend payout ratio (DPR) is currently -6.73%.

Analyst Upgrades and Downgrades

CNNE has been the subject of several research analyst reports. Royal Bank Of Canada cut their price objective on Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cannae currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Cannae Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.