Shares of Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) shot up 6.5% during mid-day trading on Friday . The company traded as high as $18.73 and last traded at $18.58. 864,768 shares traded hands during trading, an increase of 91% from the average session volume of 453,569 shares. The stock had previously closed at $17.45.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CNNE. Oppenheimer lowered their price objective 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 target on Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th.
Check Out Our Latest Stock Analysis on CNNE
Cannae Stock Performance
The company's 50-day simple moving average is $18.84 and its 200 day simple moving average is $19.47. The stock has a market cap of $1.18 billion, a P/E ratio of -3.90 and a beta of 0.86. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10.
Cannae Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.56%. Cannae's dividend payout ratio is currently -10.17%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Cannae by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company's stock worth $8,666,000 after buying an additional 44,691 shares during the last quarter. Barclays PLC raised its position in Cannae by 221.9% in the third quarter. Barclays PLC now owns 95,378 shares of the company's stock worth $1,818,000 after acquiring an additional 65,749 shares during the period. Spire Wealth Management purchased a new position in Cannae in the fourth quarter valued at about $45,000. Strategic Financial Concepts LLC bought a new position in shares of Cannae during the 4th quarter valued at approximately $281,000. Finally, State Street Corp increased its stake in shares of Cannae by 1.6% during the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company's stock worth $30,598,000 after purchasing an additional 25,403 shares during the last quarter. Institutional investors own 88.12% of the company's stock.
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.
Further Reading
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