Poehling Capital Management INC. Grows Stock Position in Cannae Holdings, Inc. (NYSE:CNNE)

Poehling Capital Management INC. boosted its position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 773,490 shares of the company's stock after buying an additional 50,025 shares during the period. Cannae makes up 3.6% of Poehling Capital Management INC.'s holdings, making the stock its 4th biggest holding. Poehling Capital Management INC. owned about 1.23% of Cannae worth $14,178,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of Cannae by 81.4% in the 1st 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. Nomura Asset Management Co. Ltd. lifted its position in Cannae by 133.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after acquiring an additional 2,436 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Cannae during the 4th quarter valued at about $122,000. GAMMA Investing LLC increased its holdings 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 purchasing an additional 8,053 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Cannae in the fourth quarter worth approximately $199,000. Institutional investors own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada upped their price objective on shares of Cannae from $22.00 to $26.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th.

Cannae Stock Performance

NYSE:CNNE traded down $0.20 during trading on Tuesday, reaching $21.44. The company's stock had a trading volume of 595,928 shares, compared to its average volume of 503,981. Cannae Holdings, Inc. has a 12 month low of $15.92 and a 12 month high of $22.36. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -4.08 and a beta of 1.02. The firm has a 50 day moving average of $19.57 and a 200-day moving average of $18.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.19 and a current ratio of 4.19.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). Cannae had a negative net margin of 73.64% and a negative return on equity of 4.86%. The firm had revenue of $103.20 million for the quarter, compared to analysts' expectations of $105.30 million. During the same period in the prior year, the company earned ($1.27) EPS. The firm's quarterly revenue was down 6.8% on a year-over-year basis. Research analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.24%. Cannae's dividend payout ratio is presently -9.13%.

Cannae announced that its Board of Directors has approved a share buyback plan on Tuesday, March 25th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.