Caxton Associates LLP Makes New $838,000 Investment 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 stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 45,731 shares of the company's stock, valued at approximately $838,000. Caxton Associates LLP owned approximately 0.07% of Cannae at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CNNE. Nuveen Asset Management LLC lifted its holdings in Cannae by 53.4% in the 4th 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 in the last quarter. Park Avenue Securities LLC raised its position in shares of Cannae by 6.3% in the first quarter. Park Avenue Securities LLC now owns 13,089 shares of the company's stock valued at $240,000 after buying an additional 777 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Cannae by 81.4% in the first quarter. Spire Wealth Management now owns 4,100 shares of the company's stock worth $75,000 after buying an additional 1,840 shares in the last quarter. Two Sigma Investments LP boosted its position in Cannae by 357.8% during the fourth quarter. Two Sigma Investments LP now owns 67,328 shares of the company's stock worth $1,337,000 after acquiring an additional 52,621 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Cannae during the fourth quarter worth about $451,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cannae

In related news, Director Frank R. Martire sold 26,478 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total value of $487,989.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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. Zacks Research lowered Cannae from a "hold" rating to a "strong sell" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.00.

Cannae Trading Down 1.0%

Cannae stock traded down $0.19 during midday trading on Friday, hitting $19.10. 602,822 shares of the stock were exchanged, compared to its average volume of 656,672. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05. The stock's 50-day simple moving average is $19.87 and its 200 day simple moving average is $18.93. Cannae Holdings, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $22.36. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.85 and a beta of 1.08.

Cannae Increases Dividend

The company 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 an increase 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 -8.96%.

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.