Mirabella Financial Services LLP Raises Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Mirabella Financial Services LLP lifted its position in Cannae Holdings, Inc. (NYSE:CNNE) by 42.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,772 shares of the company’s stock after purchasing an additional 16,681 shares during the period. Mirabella Financial Services LLP’s holdings in Cannae were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Cannae by 1,616.0% in the 2nd quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after buying an additional 1,309 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Cannae by 48.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after buying an additional 535 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Cannae in the 2nd quarter worth $48,000. Oakview Capital Management L.P. purchased a new position in shares of Cannae in the 3rd quarter worth $67,000. Finally, nVerses Capital LLC purchased a new position in shares of Cannae in the 2nd quarter worth $71,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price target on Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Cannae Price Performance

Shares of Cannae stock opened at $21.55 on Monday. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99. The stock’s fifty day moving average is $19.54 and its 200 day moving average is $19.19. The stock has a market cap of $1.35 billion, a P/E ratio of -4.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The company had revenue of $113.90 million for the quarter, compared to analysts’ expectations of $105.67 million. During the same period last year, the firm earned ($2.18) EPS. Cannae’s revenue for the quarter was down 20.7% compared to the same quarter last year. Sell-side analysts anticipate that Cannae Holdings, Inc. will post -2.97 earnings per share for the current year.

Cannae Announces Dividend

The business also recently announced 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 2.23%. Cannae’s dividend payout ratio is currently -9.98%.

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.