Fox Run Management L.L.C. Takes Position in Cannae Holdings, Inc. (NYSE:CNNE)

Fox Run Management L.L.C. bought a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,604 shares of the company's stock, valued at approximately $588,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Cannae by 10.2% in the 3rd 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 raised its holdings in Cannae by 29.6% in the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock valued at $104,000 after acquiring an additional 1,198 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Cannae by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company's stock valued at $384,000 after acquiring an additional 1,789 shares in the last quarter. SG Americas Securities LLC boosted its stake in Cannae by 9.9% during the 4th quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock valued at $399,000 after acquiring an additional 1,817 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in 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 acquiring an additional 2,014 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

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Analyst Upgrades and Downgrades

CNNE has been the topic of several research analyst reports. Royal Bank of Canada reduced their price target on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Oppenheimer decreased their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 7th.

Cannae Stock Performance

Shares of NYSE:CNNE traded down $0.33 on Friday, reaching $18.51. 872,402 shares of the company's stock were exchanged, compared to its average volume of 463,259. The business's 50-day moving average is $18.83 and its two-hundred day moving average is $19.46. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $22.99. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.85 and a beta of 0.86.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 2.59%. Cannae's payout ratio is currently -10.17%.

Cannae announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

About Cannae

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.