Cannae Holdings, Inc. $CNNE Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its position in Cannae Holdings, Inc. (NYSE:CNNE) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,600,455 shares of the company’s stock after selling 662,533 shares during the period. River Road Asset Management LLC owned approximately 7.31% of Cannae worth $56,635,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CNNE. Rubric Capital Management LP boosted its stake in Cannae by 41.3% during the second 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 in the last quarter. State of Wisconsin Investment Board raised its position in Cannae by 109.6% in the fourth quarter. State of Wisconsin Investment Board now owns 815,918 shares of the company’s stock worth $12,834,000 after acquiring an additional 426,736 shares in the last quarter. Jane Street Group LLC raised its position in Cannae by 467.8% in the fourth quarter. Jane Street Group LLC now owns 468,356 shares of the company’s stock worth $7,367,000 after acquiring an additional 385,865 shares in the last quarter. Saba Capital Management L.P. lifted its holdings in Cannae by 23.3% in the 4th quarter. Saba Capital Management L.P. now owns 1,714,994 shares of the company’s stock valued at $26,977,000 after acquiring an additional 323,531 shares during the last quarter. Finally, Almitas Capital LLC lifted its holdings in Cannae by 73.4% in the 3rd quarter. Almitas Capital LLC now owns 556,688 shares of the company’s stock valued at $10,193,000 after acquiring an additional 235,702 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Down 0.7%

Shares of NYSE CNNE opened at $13.69 on Friday. Cannae Holdings, Inc. has a 12 month low of $10.46 and a 12 month high of $21.96. The company has a market cap of $601.54 million, a price-to-earnings ratio of -1.75 and a beta of 1.19. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $13.67 and a 200-day simple moving average of $13.94.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). The company had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned ($1.81) EPS. Sell-side analysts predict that Cannae Holdings, Inc. will post -2.4 EPS for the current year.

Cannae Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 16th. Cannae’s dividend payout ratio (DPR) is presently -7.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CNNE. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Cannae in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Cannae in a research note on Tuesday, May 12th. 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 stock. According to data from MarketBeat.com, Cannae has a consensus rating of “Hold” and a consensus price target of $17.00.

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.