Quest Partners LLC Sells 26,948 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Quest Partners LLC trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 53.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,106 shares of the company's stock after selling 26,948 shares during the quarter. Quest Partners LLC's holdings in Cannae were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CNNE. River Road Asset Management LLC lifted its position in Cannae by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company's stock valued at $107,977,000 after purchasing an additional 50,150 shares during the last quarter. Rubric Capital Management LP lifted its holdings in Cannae by 17.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company's stock worth $25,945,000 after buying an additional 216,031 shares during the period. AREX Capital Management LP grew 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 worth $22,866,000 after buying an additional 432,260 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Cannae during the second quarter valued at approximately $18,611,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Cannae by 45.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company's stock valued at $13,133,000 after buying an additional 225,161 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cannae Stock Up 1.7 %

Cannae stock traded up $0.35 during trading hours on Friday, hitting $21.12. 246,756 shares of the stock traded hands, compared to its average volume of 357,262. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99. The firm's 50-day moving average price is $19.54 and its two-hundred day moving average price is $19.20. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.33 billion, a PE ratio of -4.39 and a beta of 0.87.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). The company had revenue of $113.90 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.18) earnings per share. On average, research analysts forecast that Cannae Holdings, Inc. will post -2.97 EPS for the current year.

Cannae Dividend Announcement

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

Wall Street Analyst Weigh In

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

Cannae Company 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.