Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 53.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,106 shares of the company’s stock after selling 26,948 shares during the period. Quest Partners LLC’s holdings in Cannae were worth $440,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CNNE. River Road Asset Management LLC lifted its position in shares of Cannae by 0.9% during the 3rd quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock valued at $107,977,000 after acquiring an additional 50,150 shares during the last quarter. Rubric Capital Management LP lifted its holdings in shares of Cannae by 17.8% during the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after purchasing an additional 216,031 shares during the last quarter. AREX Capital Management LP boosted its position in shares of Cannae by 52.2% in the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock valued at $22,866,000 after purchasing an additional 432,260 shares during the period. Driehaus Capital Management LLC purchased a new position in Cannae in the 2nd quarter worth about $18,611,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in Cannae by 45.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock worth $13,133,000 after buying an additional 225,161 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

Cannae Price Performance

Shares of NYSE:CNNE opened at $21.12 on Friday. The company’s fifty day moving average is $19.54 and its two-hundred day moving average is $19.21. The company has a market cap of $1.33 billion, a P/E ratio of -4.39 and a beta of 0.87. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The business had revenue of $113.90 million for the quarter, compared to the consensus estimate of $105.67 million. During the same quarter in the previous year, the company posted ($2.18) earnings per share. Cannae’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities analysts expect that Cannae Holdings, Inc. will post -2.97 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, December 17th. Cannae’s dividend payout ratio is currently -9.98%.

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.