Fmr LLC Buys 397,352 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

FMR LLC boosted its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,653,854 shares of the company's stock after buying an additional 397,352 shares during the quarter. FMR LLC owned approximately 4.23% of Cannae worth $50,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNNE. CWM LLC grew its position in shares of 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 purchasing an additional 1,309 shares during the period. Innealta Capital LLC acquired a new position in Cannae during the second quarter worth about $48,000. Oakview Capital Management L.P. acquired a new position in Cannae during the third quarter worth about $67,000. nVerses Capital LLC acquired a new position in Cannae during the second quarter worth about $71,000. Finally, Highbridge Capital Management LLC acquired a new position in Cannae during the second quarter worth about $91,000. Institutional investors and hedge funds own 88.12% of the company's stock.

Analysts Set New Price Targets

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

Cannae Stock Performance

CNNE stock traded up $0.02 on Friday, hitting $20.80. The company's stock had a trading volume of 159,457 shares, compared to its average volume of 302,739. 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 firm has a 50 day moving average of $19.98 and a two-hundred day moving average of $19.26. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -4.32 and a beta of 0.85.

Cannae (NYSE:CNNE - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting 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 business's revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.18) EPS. Equities analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Announces Dividend

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

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.