Quantbot Technologies LP Sells 23,500 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Quantbot Technologies LP lowered its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 70.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,758 shares of the company's stock after selling 23,500 shares during the period. Quantbot Technologies LP's holdings in Cannae were worth $194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Spire Wealth Management acquired a new position in Cannae in the fourth quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cannae in the fourth quarter valued at approximately $76,000. R Squared Ltd acquired a new position in Cannae during the 4th quarter worth $78,000. Blue Trust Inc. boosted its position in Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after buying an additional 4,062 shares during the last quarter. Finally, Global Retirement Partners LLC raised 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 worth $104,000 after acquiring an additional 1,198 shares during the last quarter. Institutional investors own 88.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer dropped their target price on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 7th.

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Cannae Trading Down 0.6 %

NYSE:CNNE traded down $0.11 during trading hours on Wednesday, hitting $18.56. The stock had a trading volume of 34,284 shares, compared to its average volume of 458,553. Cannae Holdings, Inc. has a one year low of $15.99 and a one year high of $22.99. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -3.86 and a beta of 0.86. 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 business's 50 day moving average is $18.80 and its 200-day moving average is $19.46.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 17th. Cannae's dividend payout ratio (DPR) is presently -10.17%.

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

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.