Private Management Group Inc. Has $28.66 Million Stake in Cannae Holdings, Inc. $CNNE

Private Management Group Inc. increased its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,821,685 shares of the company’s stock after buying an additional 142,025 shares during the period. Private Management Group Inc. owned 3.70% of Cannae worth $28,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CNNE. Quantbot Technologies LP acquired a new position in Cannae during the second quarter valued at approximately $62,000. Kelleher Financial Advisors acquired a new position in Cannae during the third quarter valued at approximately $73,000. Eurizon Capital SGR S.p.A. acquired a new position in Cannae during the fourth quarter valued at approximately $85,000. AlphaQuest LLC raised its position in Cannae by 62.0% during the third quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock valued at $106,000 after purchasing an additional 2,212 shares in the last quarter. Finally, CWM LLC raised its position in Cannae by 79.9% during the fourth quarter. CWM LLC now owns 7,313 shares of the company’s stock valued at $115,000 after purchasing an additional 3,248 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Cannae in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.00.

Cannae Stock Up 2.3%

Shares of NYSE:CNNE opened at $14.66 on Friday. The company has a fifty day moving average of $13.46 and a 200-day moving average of $14.01. The company has a market capitalization of $644.25 million, a PE ratio of -1.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71. Cannae Holdings, Inc. has a 52-week low of $10.46 and a 52-week high of $21.96.

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

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.1%. Cannae’s dividend payout ratio is -7.68%.

Cannae Company 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.