Cannae Holdings, Inc. (NYSE:CNNE) Shares Bought by Man Group plc

Man Group plc raised its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 435,421 shares of the company’s stock after purchasing an additional 7,218 shares during the period. Man Group plc’s holdings in Cannae were worth $8,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Newtyn Management LLC lifted its stake in Cannae by 18.9% during the 4th quarter. Newtyn Management LLC now owns 1,890,000 shares of the company’s stock worth $37,535,000 after acquiring an additional 300,000 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Cannae by 53.4% during the fourth quarter. Nuveen Asset Management LLC now owns 866,870 shares of the company’s stock worth $17,216,000 after purchasing an additional 301,670 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cannae by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company’s stock worth $637,000 after purchasing an additional 1,151 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of Cannae in the fourth quarter valued at approximately $10,174,000. Finally, Deutsche Bank AG grew its holdings in shares of Cannae by 27.6% in the fourth quarter. Deutsche Bank AG now owns 55,018 shares of the company’s stock valued at $1,093,000 after purchasing an additional 11,917 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer dropped their price target on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Cannae in a research note on Wednesday, May 14th.

Cannae Stock Performance

Shares of Cannae stock opened at $18.38 on Monday. The business has a 50-day simple moving average of $17.65 and a 200-day simple moving average of $19.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. Cannae Holdings, Inc. has a one year low of $15.92 and a one year high of $22.36. The company has a market cap of $1.15 billion, a PE ratio of -3.82 and a beta of 1.03.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The firm had revenue of $103.20 million for the quarter, compared to analyst estimates of $105.30 million. During the same quarter last year, the firm earned ($1.27) EPS. The company’s revenue was down 6.8% on a year-over-year basis. On average, equities research analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae declared that its board has initiated a stock buyback program on Tuesday, March 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, June 16th. Cannae’s dividend payout ratio (DPR) is presently -9.13%.

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.