Newtyn Management LLC Has $37.54 Million Stock Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Newtyn Management LLC grew its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 18.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,890,000 shares of the company's stock after acquiring an additional 300,000 shares during the quarter. Cannae comprises approximately 6.5% of Newtyn Management LLC's holdings, making the stock its 5th largest holding. Newtyn Management LLC owned 3.01% of Cannae worth $37,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Carronade Capital Management LP lifted its position in Cannae by 145.5% in the fourth quarter. Carronade Capital Management LP now owns 1,728,926 shares of the company's stock worth $34,336,000 after buying an additional 1,024,663 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Cannae by 53.4% in the fourth quarter. Nuveen Asset Management LLC now owns 866,870 shares of the company's stock worth $17,216,000 after purchasing an additional 301,670 shares during the period. Private Management Group Inc. purchased a new stake in Cannae in the fourth quarter worth $16,643,000. Northern Trust Corp increased its stake in shares of Cannae by 1.8% during the fourth quarter. Northern Trust Corp now owns 609,504 shares of the company's stock valued at $12,105,000 after buying an additional 10,895 shares during the period. Finally, Highbridge Capital Management LLC boosted its position in Cannae by 12.0% during the fourth quarter. Highbridge Capital Management LLC now owns 581,088 shares of the company's stock valued at $11,540,000 after purchasing an additional 62,437 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNNE has been the subject of several recent analyst reports. Oppenheimer lowered their price target on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $22.00 target price on shares of Cannae in a report on Wednesday, May 14th.

Cannae Trading Down 0.6%

Shares of Cannae stock traded down $0.11 during trading hours on Monday, hitting $18.29. The company's stock had a trading volume of 117,236 shares, compared to its average volume of 451,740. Cannae Holdings, Inc. has a twelve month low of $15.92 and a twelve month high of $22.36. The firm has a fifty day moving average of $17.65 and a 200-day moving average of $19.11. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -3.80 and a beta of 1.03. 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 - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). The business had revenue of $103.20 million during the quarter, compared to analysts' expectations of $105.30 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company's revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.27) EPS. Research analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, June 16th. This represents a $0.48 annualized dividend and a yield of 2.62%. Cannae's dividend payout ratio is presently -9.13%.

Cannae announced that its board has initiated a share buyback plan on Tuesday, March 25th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Cannae Profile

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.