Magnetar Financial LLC Buys 17,663 Shares of Cannae Holdings, Inc. $CNNE

Key Points

• Magnetar Financial LLC increased its holdings in Cannae Holdings, Inc. by 176.5%, now owning 27,673 shares valued at $507,000.
• Cannae recently raised its quarterly dividend from $0.12 to $0.15, reflecting a yield of 3.2%, with a record date on September 16th.
• Royal Bank Of Canada upgraded Cannae's price target from $22.00 to $26.00 and gave the stock an "outperform" rating, indicating growing analyst confidence.

Magnetar Financial LLC boosted its stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 176.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,673 shares of the company's stock after buying an additional 17,663 shares during the quarter. Magnetar Financial LLC's holdings in Cannae were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNNE. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cannae by 460.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock worth $38,000 after purchasing an additional 1,700 shares in the last quarter. Summit Securities Group LLC acquired a new position in Cannae in the first quarter worth $49,000. Spire Wealth Management boosted its stake in 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 purchasing an additional 1,840 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Cannae in the fourth quarter worth $122,000. Finally, GAMMA Investing LLC boosted its stake in Cannae by 2,236.9% in the first quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock worth $154,000 after purchasing an additional 8,053 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Analysts Set New Price Targets

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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $24.00.

Insider Buying and Selling at Cannae

In other 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 transaction of $487,989.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.90% of the stock is currently owned by insiders.

Cannae Trading Up 0.8%

Shares of CNNE stock traded up $0.15 on Friday, reaching $18.70. 573,024 shares of the stock were exchanged, compared to its average volume of 798,369. The stock has a market cap of $1.05 billion, a PE ratio of -2.79 and a beta of 1.08. Cannae Holdings, Inc. has a one year low of $15.91 and a one 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. The stock has a 50 day moving average price of $20.08 and a 200 day moving average price of $18.94.

Cannae Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 16th. This is an increase from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. Cannae's dividend payout ratio is presently -8.96%.

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.