Corsair Capital Management L.P. Purchases New Position in Cannae Holdings, Inc. $CNNE

Key Points

• Corsair Capital Management L.P. has acquired a new position in Cannae Holdings, purchasing 20,000 shares valued at approximately $367,000 in the first quarter.
• Royal Bank Of Canada increased its price target on Cannae from $22.00 to $26.00, stating an "outperform" rating for the stock.
• Cannae Holdings announced a quarterly dividend increase to $0.15 per share, representing an annualized yield of 3.2%.

Corsair Capital Management L.P. purchased a new stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,000 shares of the company's stock, valued at approximately $367,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cannae by 460.7% in 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 in the last quarter. Summit Securities Group LLC purchased a new stake in Cannae during the 1st quarter worth approximately $49,000. Spire Wealth Management increased its stake in Cannae by 81.4% during the 1st 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. Ameriflex Group Inc. purchased a new stake in Cannae during the 4th quarter worth approximately $122,000. Finally, GAMMA Investing LLC increased its stake in Cannae by 2,236.9% during the 1st quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock worth $154,000 after buying an additional 8,053 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada boosted their price objective on Cannae from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $24.00.

Cannae Trading Down 0.2%

Shares of Cannae stock opened at $18.63 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of -2.78 and a beta of 1.06. The stock's 50 day simple moving average is $20.31 and its 200-day simple moving average is $18.99. Cannae Holdings, Inc. has a 1-year low of $15.91 and a 1-year high of $22.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.78 and a quick ratio of 2.78.

Cannae Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 3.2%. This is an increase from Cannae's previous quarterly dividend of $0.12. Cannae's payout ratio is presently -8.96%.

Cannae Company 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.

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