Shares of Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $16.98, but opened at $17.35. Cannae shares last traded at $17.62, with a volume of 46,150 shares.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CNNE shares. Oppenheimer lowered their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada lowered their price objective on Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th.
Read Our Latest Stock Report on Cannae
Cannae Stock Down 0.4 %
The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The firm's fifty day moving average is $18.84 and its 200-day moving average is $19.47.
Cannae Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.57%. Cannae's dividend payout ratio (DPR) is presently -10.17%.
Hedge Funds Weigh In On Cannae
Hedge funds have recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Cannae during the 4th quarter worth approximately $122,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cannae by 10.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,116 shares of the company's stock valued at $3,438,000 after acquiring an additional 16,272 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Cannae during the fourth quarter worth $230,000. Two Sigma Advisers LP bought a new stake in Cannae during the fourth quarter valued at $451,000. Finally, Two Sigma Investments LP raised its holdings in shares of Cannae by 357.8% during the fourth quarter. Two Sigma Investments LP now owns 67,328 shares of the company's stock worth $1,337,000 after purchasing an additional 52,621 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.
About Cannae
(
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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.
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