Ieq Capital LLC Buys New Position in Cannae Holdings, Inc. $CNNE

Ieq Capital LLC bought a new stake in Cannae Holdings, Inc. (NYSE:CNNE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 39,178 shares of the company’s stock, valued at approximately $564,000. Ieq Capital LLC owned approximately 0.09% of Cannae at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of Cannae in the 2nd quarter worth $1,062,000. First Trust Advisors LP purchased a new stake in Cannae during the first quarter valued at about $936,000. Fifth Third Bancorp purchased a new stake in Cannae during the first quarter valued at about $1,258,000. Gabelli Funds LLC increased its stake in Cannae by 90.4% during the first quarter. Gabelli Funds LLC now owns 191,152 shares of the company’s stock worth $2,173,000 after acquiring an additional 90,741 shares during the last quarter. Finally, Private Management Group Inc. increased its stake in Cannae by 8.5% during the fourth quarter. Private Management Group Inc. now owns 1,821,685 shares of the company’s stock worth $28,655,000 after acquiring an additional 142,025 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNNE. Royal Bank Of Canada reiterated an “outperform” rating and set a $16.00 target price on shares of Cannae in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Cannae from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Cannae from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.50.

Cannae Price Performance

Shares of NYSE CNNE opened at $15.64 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 1.24. Cannae Holdings, Inc. has a 1-year low of $10.46 and a 1-year high of $19.88. The company has a market capitalization of $678.31 million, a price-to-earnings ratio of -5.18 and a beta of 1.20. The business has a 50-day moving average of $14.79 and a 200-day moving average of $13.60.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $1.28. The firm had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.8%. Cannae’s dividend payout ratio (DPR) is currently -19.87%.

Cannae Profile

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.