Cannae Holdings, Inc. (NYSE:CNNE) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP boosted its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 357.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,328 shares of the company's stock after purchasing an additional 52,621 shares during the quarter. Two Sigma Investments LP owned approximately 0.11% of Cannae worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CNNE. Nuveen Asset Management LLC grew its holdings in shares of Cannae by 53.4% during the fourth quarter. Nuveen Asset Management LLC now owns 866,870 shares of the company's stock valued at $17,216,000 after purchasing an additional 301,670 shares during the last quarter. Barclays PLC grew its stake in Cannae by 221.9% during the 3rd quarter. Barclays PLC now owns 95,378 shares of the company's stock worth $1,818,000 after buying an additional 65,749 shares during the last quarter. Spire Wealth Management bought a new position in Cannae during the 4th quarter worth $45,000. Strategic Financial Concepts LLC acquired a new stake in Cannae in the fourth quarter worth $281,000. Finally, Private Management Group Inc. bought a new stake in Cannae in the fourth quarter valued at $16,643,000. Institutional investors and hedge funds own 88.12% of the company's stock.

Wall Street Analyst Weigh In

CNNE has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of Cannae in a report on Wednesday, May 14th. Oppenheimer dropped their price target on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th.

Cannae Stock Performance

Shares of NYSE:CNNE traded up $0.13 on Friday, hitting $19.35. The company's stock had a trading volume of 704,908 shares, compared to its average volume of 473,316. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.02 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 Holdings, Inc. has a 12 month low of $15.92 and a 12 month high of $22.36. The stock's 50-day moving average is $17.85 and its two-hundred day moving average is $18.91.

Cannae (NYSE:CNNE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.03). The company had revenue of $103.20 million during the quarter, compared to analyst estimates of $105.30 million. Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.27) EPS. On average, equities research analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae declared that its board has approved a share buyback plan on Tuesday, March 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, June 16th. Cannae's dividend payout ratio is currently -9.13%.

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.