Factorial Partners LLC Has $3.05 Million Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Key Points

• Factorial Partners LLC has reduced its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 9.8%, now owning 166,177 shares after selling 18,000 shares in the 1st quarter.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00 and assigned an "outperform" rating.
• Cannae's recent quarterly earnings reported an EPS of ($0.59), missing the consensus estimate and showing a year-over-year revenue decrease of 6.8%.

Factorial Partners LLC trimmed its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,177 shares of the company's stock after selling 18,000 shares during the quarter. Cannae makes up about 1.9% of Factorial Partners LLC's investment portfolio, making the stock its 23rd biggest position. Factorial Partners LLC owned 0.26% of Cannae worth $3,046,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNNE. Alberta Investment Management Corp bought a new stake in shares of Cannae during the first quarter valued at approximately $7,790,000. XTX Topco Ltd grew its stake in shares of Cannae by 470.9% during the first quarter. XTX Topco Ltd now owns 61,541 shares of the company's stock valued at $1,128,000 after purchasing an additional 50,762 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Cannae by 91.1% during the first quarter. Private Management Group Inc. now owns 1,601,334 shares of the company's stock valued at $29,352,000 after purchasing an additional 763,324 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cannae during the first quarter valued at approximately $1,507,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cannae during the first quarter valued at approximately $762,000. 88.12% of the stock is owned by institutional investors.

Cannae Stock Up 1.0%

Shares of CNNE stock traded up $0.20 during trading hours on Friday, hitting $19.88. 580,498 shares of the company were exchanged, compared to its average volume of 630,384. The business has a 50 day moving average of $20.64 and a two-hundred day moving average of $19.10. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.04. Cannae Holdings, Inc. has a 52 week low of $15.91 and a 52 week high of $22.36. The company has a market capitalization of $1.25 billion, a PE ratio of -3.78 and a beta of 1.06.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). The company had revenue of $103.20 million for the quarter, compared to the consensus estimate of $105.30 million. Cannae had a negative return on equity of 4.86% and a negative net margin of 73.64%. The firm's revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.27) EPS. Analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.15 dividend. This is a boost from Cannae's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. Cannae's payout ratio is -9.13%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada increased their price objective on shares of Cannae from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Thursday, July 10th.

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.