Continental Advisors LLC Cuts Stock Position in Cannae Holdings, Inc. $CNNE

Key Points

• Continental Advisors LLC reduced its stake in Cannae Holdings, Inc. by 9.4%, holding now 217,123 shares, which constitutes 2.2% of its investment portfolio.
• Several institutional investors, including Vanguard Group Inc. and Newtyn Management LLC, have increased their holdings in Cannae, with Newtyn Management increasing its stake by 143.4%.
• Cannae recently announced a quarterly dividend increase from $0.12 to $0.15 per share, representing an annualized yield of 3.2%.

Continental Advisors LLC decreased its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,123 shares of the company's stock after selling 22,500 shares during the period. Cannae accounts for about 2.2% of Continental Advisors LLC's holdings, making the stock its 14th largest holding. Continental Advisors LLC owned about 0.35% of Cannae worth $3,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cannae by 460.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock valued at $38,000 after purchasing an additional 1,700 shares during the last quarter. Summit Securities Group LLC bought a new position in Cannae during the 1st quarter valued at approximately $49,000. Spire Wealth Management raised its position in Cannae by 81.4% during the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company's stock valued at $75,000 after purchasing an additional 1,840 shares during the last quarter. Ameriflex Group Inc. bought a new position in Cannae during the 4th quarter valued at approximately $122,000. Finally, GAMMA Investing LLC raised its position in Cannae by 2,236.9% during the 1st quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock valued at $154,000 after purchasing an additional 8,053 shares during the last quarter. Institutional investors own 88.12% of the company's stock.

Cannae Stock Down 1.0%

Shares of NYSE:CNNE traded down $0.19 during trading on Friday, hitting $19.10. The stock had a trading volume of 602,822 shares, compared to its average volume of 651,616. Cannae Holdings, Inc. has a 12 month low of $15.91 and a 12 month high of $22.36. The company has a market capitalization of $1.07 billion, a PE ratio of -2.85 and a beta of 1.08. The firm's fifty day moving average is $19.87 and its 200 day moving average is $18.92. 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 Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Cannae

In related news, Director Frank R. Martire sold 26,478 shares of the company's stock in a transaction that occurred 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 hyperlink. 10.90% of the stock is owned by insiders.

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.