Highbridge Capital Management LLC Purchases 62,437 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Highbridge Capital Management LLC grew its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 581,088 shares of the company’s stock after purchasing an additional 62,437 shares during the quarter. Highbridge Capital Management LLC owned approximately 0.93% of Cannae worth $11,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Spire Wealth Management purchased a new position in Cannae during the fourth quarter valued at $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Cannae in the fourth quarter worth $76,000. R Squared Ltd purchased a new stake in Cannae in the 4th quarter worth $78,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Cannae by 133.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock worth $85,000 after purchasing an additional 2,436 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Cannae by 457.9% during 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 in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CNNE has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Oppenheimer lowered their price objective 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.

Cannae Price Performance

Shares of Cannae stock opened at $18.86 on Friday. The stock has a 50 day moving average price of $18.84 and a 200-day moving average price of $19.46. Cannae Holdings, Inc. has a one year low of $15.99 and a one year high of $22.99. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -3.92 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.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, March 17th. Cannae’s dividend payout ratio (DPR) is -10.17%.

Cannae declared that its board has approved a share repurchase program on Tuesday, March 25th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication 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.