Cannae Holdings, Inc. $CNNE Shares Acquired by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. increased its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 61.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,768 shares of the company’s stock after buying an additional 59,500 shares during the period. Levin Capital Strategies L.P. owned about 0.36% of Cannae worth $1,782,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CNNE. JPMorgan Chase & Co. grew its holdings in Cannae by 83.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,963 shares of the company’s stock worth $5,309,000 after acquiring an additional 132,166 shares in the last quarter. Private Management Group Inc. increased its position in shares of Cannae by 8.5% in the 4th quarter. Private Management Group Inc. now owns 1,821,685 shares of the company’s stock worth $28,655,000 after purchasing an additional 142,025 shares during the last quarter. Poehling Capital Management INC. increased its position in shares of Cannae by 46.4% in the 1st quarter. Poehling Capital Management INC. now owns 954,190 shares of the company’s stock worth $10,849,000 after purchasing an additional 302,494 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Cannae by 17.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 950,378 shares of the company’s stock valued at $14,949,000 after purchasing an additional 144,570 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Cannae by 64.3% in the 4th quarter. Comerica Bank now owns 138,625 shares of the company’s stock valued at $2,181,000 after purchasing an additional 54,266 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Stock Performance

Cannae stock opened at $14.78 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 1.71. Cannae Holdings, Inc. has a 12 month low of $10.46 and a 12 month high of $21.96. The company has a fifty day moving average price of $14.28 and a two-hundred day moving average price of $13.66. The company has a market cap of $649.35 million, a PE ratio of -1.89 and a beta of 1.20.

Cannae (NYSE:CNNE) last issued its earnings results on Monday, May 11th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The business had revenue of $96.20 million for the quarter, compared to analyst estimates of $99.77 million. During the same period last year, the company posted ($1.81) earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts expect that Cannae Holdings, Inc. will post -2.4 earnings per share for the current year.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 16th. Cannae’s dividend payout ratio is currently -7.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Cannae in a research note on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Monday, July 6th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Cannae Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.