Caxton Associates LLP Acquires New Stake in Cannae Holdings, Inc. $CNNE

Key Points

• Caxton Associates LLP has made a new investment in Cannae Holdings, acquiring 45,731 shares valued at approximately $838,000, representing about 0.07% ownership as of the latest reporting period.
• Other institutional investors have increased their stakes in Cannae, with Nuveen Asset Management LLC raising its position by 53.4%, now owning over 866,870 shares worth approximately $17.2 million.
• Cannae Holdings recently declared a quarterly dividend increase from $0.12 to $0.15 per share, reflecting a yield of 3.2% for investors of record on September 16th.

Caxton Associates LLP bought a new position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 45,731 shares of the company's stock, valued at approximately $838,000. Caxton Associates LLP owned about 0.07% of Cannae as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CNNE. Newtyn Management LLC lifted its holdings in Cannae by 143.4% during the first quarter. Newtyn Management LLC now owns 4,600,000 shares of the company's stock worth $84,318,000 after acquiring an additional 2,710,000 shares during the period. Carronade Capital Management LP increased its position in shares of Cannae by 66.2% during the 1st quarter. Carronade Capital Management LP now owns 2,874,116 shares of the company's stock valued at $52,683,000 after purchasing an additional 1,145,190 shares during the last quarter. Saba Capital Management L.P. raised its stake in shares of Cannae by 92.3% during the 4th quarter. Saba Capital Management L.P. now owns 2,219,230 shares of the company's stock worth $44,074,000 after purchasing an additional 1,065,083 shares during the period. Nuveen LLC bought a new stake in shares of Cannae during the 1st quarter worth $14,816,000. Finally, Private Management Group Inc. boosted its holdings in shares of Cannae by 91.1% in the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company's stock worth $29,352,000 after buying an additional 763,324 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Stock Performance

Shares of NYSE:CNNE traded up $0.22 during midday trading on Tuesday, reaching $19.45. 694,561 shares of the company traded hands, compared to its average volume of 653,178. The firm's fifty day moving average price is $19.81 and its two-hundred day moving average price is $18.92. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.90 and a beta of 1.08. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05. Cannae Holdings, Inc. has a 12 month low of $15.91 and a 12 month high of $22.36.

Cannae Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This is a boost from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 16th. Cannae's dividend payout ratio (DPR) is currently -7.16%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Cannae from a "hold" rating to a "strong sell" rating in a report on Thursday, September 11th. Royal Bank Of Canada increased their target price on shares of Cannae from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $24.00.

Insider Activity

In other news, Director Frank R. Martire sold 26,478 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.43, for a total value of $487,989.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.90% of the company's stock.

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.