Cannae Holdings, Inc. (NYSE:CNNE) is Poehling Capital Management INC.'s 4th Largest Position

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management boosted its position in Cannae by 81.4% during the first 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Cannae by 133.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after purchasing an additional 2,436 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Cannae during the fourth quarter valued at about $122,000. GAMMA Investing LLC boosted its position in Cannae by 2,236.9% during the first 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 in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Cannae during the fourth quarter valued at about $199,000. Institutional investors own 88.12% of the company's stock.

Analysts Set New Price Targets

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

Cannae Stock Down 0.7%

NYSE CNNE traded down $0.15 during trading on Friday, hitting $21.51. The company's stock had a trading volume of 442,670 shares, compared to its average volume of 504,708. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.19 and a quick ratio of 4.19. The company has a market cap of $1.35 billion, a PE ratio of -4.09 and a beta of 1.02. The business's 50 day simple moving average is $19.64 and its 200-day simple moving average is $18.88. Cannae Holdings, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $22.36.

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

Cannae declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, June 16th. Cannae's dividend payout ratio is presently -9.13%.

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.