Carronade Capital Management LP boosted its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 145.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,728,926 shares of the company's stock after purchasing an additional 1,024,663 shares during the period. Cannae comprises 1.9% of Carronade Capital Management LP's holdings, making the stock its 6th biggest holding. Carronade Capital Management LP owned approximately 2.76% of Cannae worth $34,336,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNNE. Continental Advisors LLC grew its holdings in shares of Cannae by 0.3% in the fourth quarter. Continental Advisors LLC now owns 239,623 shares of the company's stock worth $4,759,000 after purchasing an additional 624 shares during the last quarter. Global Retirement Partners LLC grew its stake in Cannae by 29.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock worth $104,000 after acquiring an additional 1,198 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cannae by 9.9% during the fourth quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock worth $399,000 after acquiring an additional 1,817 shares during the period. MetLife Investment Management LLC raised its stake 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 acquiring an additional 1,883 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Cannae by 19.6% in the fourth quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock valued at $245,000 after purchasing an additional 2,014 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Oppenheimer decreased their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Royal Bank of Canada lowered their price objective on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th.
Read Our Latest Stock Analysis on Cannae
Cannae Stock Up 2.1 %
Cannae stock opened at $18.12 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.14 billion, a P/E ratio of -3.77 and a beta of 1.03. The business has a fifty day moving average of $17.73 and a two-hundred day moving average of $19.18. Cannae Holdings, Inc. has a twelve month low of $15.92 and a twelve month high of $22.36.
Cannae Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, March 17th. Cannae's dividend payout ratio (DPR) is currently -10.17%.
Cannae declared that its Board of Directors has approved a share buyback program on Tuesday, March 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Cannae Profile
(
Free Report)
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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