Cannae Holdings, Inc. $CNNE Holdings Trimmed by River Road Asset Management LLC

River Road Asset Management LLC reduced its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 15.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,600,455 shares of the company’s stock after selling 662,533 shares during the period. River Road Asset Management LLC owned 0.07% of Cannae worth $56,635,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Cannae in the second quarter worth $62,000. Kelleher Financial Advisors acquired a new position in Cannae during the third quarter valued at $73,000. Eurizon Capital SGR S.p.A. acquired a new position in Cannae during the fourth quarter valued at $85,000. CWM LLC raised its position in Cannae by 79.9% during the fourth quarter. CWM LLC now owns 7,313 shares of the company’s stock valued at $115,000 after buying an additional 3,248 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Cannae in the 4th quarter worth about $179,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

CNNE has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cannae in a report on Tuesday, May 12th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Cannae in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.00.

Cannae Trading Down 0.7%

Cannae stock opened at $13.69 on Friday. The company’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $13.94. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.07. Cannae Holdings, Inc. has a 12 month low of $10.46 and a 12 month high of $21.96. The stock has a market cap of $601.54 million, a P/E ratio of -1.75 and a beta of 1.19.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.30). The firm had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.Cannae’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.81) earnings per share. As a group, sell-side analysts forecast that Cannae Holdings, Inc. will post -2.4 EPS for the current fiscal year.

Cannae Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Cannae’s dividend payout ratio is presently -7.68%.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.