Nitorum Capital L.P. Cuts Stock Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Nitorum Capital L.P. lowered its stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,662,388 shares of the company's stock after selling 206,175 shares during the quarter. Cannae comprises 3.8% of Nitorum Capital L.P.'s portfolio, making the stock its 10th biggest holding. Nitorum Capital L.P. owned 2.65% of Cannae worth $33,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management bought a new stake in Cannae during the 4th quarter valued at approximately $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Cannae during the 4th quarter valued at approximately $76,000. R Squared Ltd bought a new stake in Cannae during the 4th quarter valued at approximately $78,000. Nomura Asset Management Co. Ltd. raised its stake in Cannae by 133.0% during the 4th 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 during the period. Finally, Blue Trust Inc. raised its stake in Cannae by 457.9% during the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after purchasing an additional 4,062 shares during the period. Institutional investors own 88.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer reduced their price objective on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th.

Cannae Price Performance

NYSE:CNNE traded up $0.12 during trading hours on Thursday, reaching $17.83. The stock had a trading volume of 81,272 shares, compared to its average volume of 567,001. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. Cannae Holdings, Inc. has a 52 week low of $15.91 and a 52 week high of $22.36. The company has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $19.19. The stock has a market capitalization of $1.12 billion, a PE ratio of -3.71 and a beta of 0.89.

Cannae Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, March 17th. Cannae's payout ratio is -10.17%.

Cannae declared that its Board of Directors has approved a share buyback program on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are 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.