Intech Investment Management LLC Makes New Investment in Cannae Holdings, Inc. (NYSE:CNNE)

Intech Investment Management LLC bought a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) in the third quarter, Holdings Channel reports. The fund bought 12,807 shares of the company’s stock, valued at approximately $244,000.

Several other large investors also recently modified their holdings of CNNE. Price T Rowe Associates Inc. MD grew its holdings in Cannae by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,285 shares of the company’s stock valued at $963,000 after purchasing an additional 1,312 shares during the period. CWM LLC lifted its position in shares of Cannae by 1,616.0% during the 2nd quarter. CWM LLC now owns 1,390 shares of the company’s stock valued at $25,000 after buying an additional 1,309 shares during the last quarter. Shayne & Jacobs LLC grew its stake in shares of Cannae by 5.6% during the 2nd quarter. Shayne & Jacobs LLC now owns 86,496 shares of the company’s stock worth $1,569,000 after acquiring an additional 4,590 shares during the period. Crescent Grove Advisors LLC increased its holdings in Cannae by 0.4% in the 2nd quarter. Crescent Grove Advisors LLC now owns 318,884 shares of the company’s stock worth $5,785,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Cannae in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

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

Cannae Stock Down 1.7 %

Cannae stock opened at $20.78 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.32 and a beta of 0.85. The firm has a 50 day simple moving average of $19.95 and a 200 day simple moving average of $19.26. Cannae Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $22.99. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10.

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

Cannae Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, December 17th. Cannae’s payout ratio is -9.98%.

Cannae 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.