Cygnus Capital Advisors LLC Buys 85,392 Shares of Cannae Holdings, Inc. $CNNE

Key Points

• Cygnus Capital Advisors increased its Cannae Holdings stake by 39.7%, purchasing 85,392 additional shares to own 300,240 shares valued at approximately $4.32 million. Institutional investors collectively hold 88.12% of CNNE.
• Analysts’ consensus rating is “Hold”, with a $16.50 average price target. Ratings include two Buys, one Hold and one Sell.
• Cannae reported quarterly revenue of $102.2 million and adjusted earnings of $0.86 per share, exceeding estimates, while declaring a quarterly dividend of $0.15 per share, representing a 3.8% annualized yield.

Cygnus Capital Advisors LLC grew its stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 39.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,240 shares of the company's stock after buying an additional 85,392 shares during the period. Cannae makes up approximately 2.9% of Cygnus Capital Advisors LLC's holdings, making the stock its 15th biggest position. Cygnus Capital Advisors LLC owned about 0.69% of Cannae worth $4,323,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CNNE. Nykredit A S acquired a new position in shares of Cannae during the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in Cannae by 147.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company's stock worth $29,000 after purchasing an additional 1,195 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cannae in the 2nd quarter worth approximately $30,000. Allworth Financial LP bought a new stake in Cannae during the second quarter worth approximately $32,000. Finally, Essential Partners LLC boosted its position in Cannae by 2,913.0% during the first quarter. Essential Partners LLC now owns 2,772 shares of the company's stock worth $32,000 after purchasing an additional 2,680 shares during the period. Institutional investors own 88.12% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CNNE. Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of Cannae in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Cannae from a "sell (d-)" rating to a "sell (d)" rating in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Cannae from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cannae currently has an average rating of "Hold" and a consensus target price of $16.50.

Cannae Stock Performance

NYSE CNNE opened at $15.82 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $686.11 million, a price-to-earnings ratio of -5.24 and a beta of 1.21. The company's fifty day moving average is $15.00 and its two-hundred day moving average is $13.69. Cannae Holdings, Inc. has a 52-week low of $10.46 and a 52-week high of $19.88.

Cannae (NYSE:CNNE - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $1.28. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%. The business had revenue of $102.20 million during the quarter, compared to analyst estimates of $99.65 million.

Cannae Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.8%. Cannae's dividend payout ratio is -19.87%.

Cannae Profile

Cannae Holdings, Inc NYSE: CNNE is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae's investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.

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