AREX Capital Management LP Acquires 432,260 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

AREX Capital Management LP raised its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 52.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,260,539 shares of the company’s stock after purchasing an additional 432,260 shares during the period. Cannae comprises 26.1% of AREX Capital Management LP’s holdings, making the stock its largest position. AREX Capital Management LP’s holdings in Cannae were worth $22,866,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Cannae by 1,616.0% in the second quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after acquiring an additional 1,309 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Cannae in the fourth quarter worth approximately $36,000. EntryPoint Capital LLC boosted its stake in shares of Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after acquiring an additional 535 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Cannae in the second quarter worth approximately $48,000. Finally, nVerses Capital LLC acquired a new stake in shares of Cannae in the second quarter worth approximately $71,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of NYSE:CNNE opened at $19.31 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day moving average price is $19.43 and its 200-day moving average price is $19.65. The firm has a market capitalization of $1.21 billion, a PE ratio of -3.55 and a beta of 0.88. Cannae Holdings, Inc. has a 1 year low of $15.93 and a 1 year high of $22.99.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($2.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). The company had revenue of $118.00 million for the quarter, compared to analyst estimates of $112.00 million. Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The business’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period last year, the firm posted ($1.16) EPS. As a group, equities research analysts expect that Cannae Holdings, Inc. will post -3.03 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, September 16th. Cannae’s dividend payout ratio (DPR) is currently -8.82%.

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.