41,552 Shares in Cannae Holdings, Inc. (NYSE:CNNE) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired 41,552 shares of Cannae Holdings, Inc. valued at approximately $762,000, which represents 0.07% ownership according to its latest SEC filing.
• Royal Bank of Canada increased its target price for Cannae shares from $22.00 to $26.00, maintaining an "outperform" rating.
• Cannae recently declared a quarterly dividend of $0.12 per share, resulting in an annual yield of 2.21%, despite posting a loss in recent earnings.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,552 shares of the company's stock, valued at approximately $762,000. Y Intercept Hong Kong Ltd owned about 0.07% of Cannae as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Saba Capital Management L.P. grew its holdings in shares of Cannae by 92.3% during the fourth quarter. Saba Capital Management L.P. now owns 2,219,230 shares of the company's stock valued at $44,074,000 after buying an additional 1,065,083 shares in the last quarter. Carronade Capital Management LP raised its holdings in shares of Cannae by 145.5% during the 4th quarter. Carronade Capital Management LP now owns 1,728,926 shares of the company's stock valued at $34,336,000 after purchasing an additional 1,024,663 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Cannae during the 4th quarter worth about $10,174,000. Nuveen Asset Management LLC grew its holdings in Cannae by 53.4% during the fourth quarter. Nuveen Asset Management LLC now owns 866,870 shares of the company's stock valued at $17,216,000 after purchasing an additional 301,670 shares during the last quarter. Finally, Newtyn Management LLC lifted its position in Cannae by 18.9% during the 4th quarter. Newtyn Management LLC now owns 1,890,000 shares of the company's stock worth $37,535,000 after acquiring an additional 300,000 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada increased 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 Price Performance

Shares of CNNE stock traded down $0.13 during mid-day trading on Monday, reaching $21.67. The company's stock had a trading volume of 434,873 shares, compared to its average volume of 642,778. The firm's 50-day moving average is $20.11 and its two-hundred day moving average is $18.98. The company has a market cap of $1.36 billion, a P/E ratio of -4.12 and a beta of 1.02. 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 0.04, a quick ratio of 4.19 and a current ratio of 4.19.

Cannae (NYSE:CNNE - Get Free Report) last announced 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). The business had revenue of $103.20 million for the quarter, compared to the consensus estimate of $105.30 million. Cannae had a negative return on equity of 4.86% and a negative net margin of 73.64%. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.27) EPS. On average, research analysts predict that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, June 16th. Cannae's dividend payout ratio is -9.13%.

About Cannae

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.