ExodusPoint Capital Management LP Buys 44,629 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

ExodusPoint Capital Management LP increased its position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 52.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,195 shares of the company's stock after purchasing an additional 44,629 shares during the period. ExodusPoint Capital Management LP owned approximately 0.21% of Cannae worth $2,566,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CNNE. BNP Paribas Financial Markets lifted its holdings in shares of Cannae by 10.2% in the third quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company's stock valued at $236,000 after purchasing an additional 1,150 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Cannae by 29.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock valued at $104,000 after purchasing an additional 1,198 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Cannae by 9.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company's stock worth $384,000 after purchasing an additional 1,789 shares during the last quarter. SG Americas Securities LLC increased its stake in Cannae by 9.9% in the 4th quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock valued at $399,000 after buying an additional 1,817 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Cannae by 19.6% during the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock worth $245,000 after buying an additional 2,014 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Cannae Stock Performance

NYSE:CNNE traded up $0.09 during trading hours on Friday, reaching $16.92. The stock had a trading volume of 675,960 shares, compared to its average volume of 447,606. Cannae Holdings, Inc. has a 12-month low of $15.92 and a 12-month high of $22.36. 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 stock has a 50 day simple moving average of $18.33 and a 200 day simple moving average of $19.31. The stock has a market cap of $1.06 billion, a P/E ratio of -3.52 and a beta of 0.89.

Cannae declared that its board has authorized a stock repurchase program on Tuesday, March 25th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Monday, March 17th. Cannae's dividend payout ratio is currently -10.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Oppenheimer decreased their price target on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th.

Cannae 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.