Aquatic Capital Management LLC Buys New Position in Cannae Holdings, Inc. (NYSE:CNNE)

Aquatic Capital Management LLC purchased a new position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,343 shares of the company's stock, valued at approximately $325,000.

A number of other large investors have also modified their holdings of CNNE. Credit Industriel ET Commercial acquired a new stake in Cannae in the 4th quarter worth approximately $2,995,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Cannae by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,231 shares of the company's stock worth $919,000 after buying an additional 3,643 shares during the period. Continental Advisors LLC lifted its stake in shares of Cannae by 0.3% during the fourth quarter. Continental Advisors LLC now owns 239,623 shares of the company's stock worth $4,759,000 after buying an additional 624 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Cannae by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 34,432 shares of the company's stock valued at $684,000 after buying an additional 1,883 shares during the last quarter. Finally, Natixis increased its position in shares of Cannae by 25.9% in the 4th quarter. Natixis now owns 72,820 shares of the company's stock valued at $1,446,000 after acquiring an additional 15,000 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CNNE shares. Royal Bank of Canada dropped their price target on Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer dropped their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th.

Cannae Trading Up 2.1 %

NYSE CNNE opened at $18.12 on Friday. Cannae Holdings, Inc. has a 1 year low of $15.92 and a 1 year high of $22.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The company has a market capitalization of $1.14 billion, a PE ratio of -3.77 and a beta of 1.03. The company has a fifty day moving average of $17.73 and a 200 day moving average of $19.19.

Cannae declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 25th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.65%. Cannae's payout ratio is -10.17%.

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.

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