Private Management Group Inc. Has $28.66 Million Holdings in Cannae Holdings, Inc. $CNNE

Private Management Group Inc. increased its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,821,685 shares of the company’s stock after purchasing an additional 142,025 shares during the quarter. Private Management Group Inc.’s holdings in Cannae were worth $28,655,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in shares of Cannae by 0.5% in the 2nd quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock worth $5,574,000 after acquiring an additional 1,265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cannae by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after acquiring an additional 1,405 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cannae by 1.2% in the 3rd quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock worth $3,312,000 after acquiring an additional 2,099 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Cannae by 62.0% in the 3rd quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock worth $106,000 after acquiring an additional 2,212 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Cannae by 27.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock worth $231,000 after acquiring an additional 2,716 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

Cannae Trading Up 2.3%

NYSE:CNNE opened at $14.66 on Friday. The firm has a 50-day moving average price of $13.46 and a two-hundred day moving average price of $14.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71. Cannae Holdings, Inc. has a 52 week low of $10.46 and a 52 week high of $21.96. The firm has a market cap of $644.25 million, a price-to-earnings ratio of -1.88 and a beta of 1.19.

Cannae (NYSE:CNNE) last issued its quarterly earnings results 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). Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. During the same quarter in the previous year, the business earned ($1.81) EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities analysts expect that Cannae Holdings, Inc. will post -2.4 earnings per share for the current fiscal year.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.1%. Cannae’s dividend payout ratio (DPR) is presently -7.68%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cannae in a research note on Tuesday, May 12th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Cannae in a research note on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research note on Wednesday, April 8th. Two equities research 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, Cannae has an average rating of “Hold” and a consensus target price of $17.00.

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.