Charles Schwab Investment Management Inc. Sells 74,138 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Charles Schwab Investment Management Inc. reduced its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 615,152 shares of the company's stock after selling 74,138 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.98% of Cannae worth $11,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CNNE. CWM LLC increased its stake in Cannae by 1,616.0% in the second quarter. CWM LLC now owns 1,390 shares of the company's stock valued at $25,000 after acquiring an additional 1,309 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Cannae during the second quarter worth approximately $48,000. Oakview Capital Management L.P. bought a new stake in shares of Cannae in the 3rd quarter worth approximately $67,000. nVerses Capital LLC purchased a new stake in shares of Cannae in the 2nd quarter valued at $71,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Cannae during the 2nd quarter valued at $91,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cannae Trading Down 0.3 %

NYSE:CNNE traded down $0.05 during midday trading on Monday, reaching $20.75. 238,676 shares of the stock traded hands, compared to its average volume of 517,593. The stock has a market capitalization of $1.30 billion, a P/E ratio of -4.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The company has a fifty day moving average of $19.98 and a 200 day moving average of $19.26. Cannae Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $22.99.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, meeting the consensus estimate of ($0.22). The firm had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company's quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.18) earnings per share. On average, research analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, December 17th. Cannae's dividend payout ratio (DPR) is currently -9.98%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada boosted their target price on Cannae from $26.00 to $27.00 and gave the company 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.