Ieq Capital LLC Acquires Shares of 39,178 Cannae Holdings, Inc. $CNNE

Ieq Capital LLC bought a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,178 shares of the company’s stock, valued at approximately $564,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Cannae by 147.0% in the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $29,000 after purchasing an additional 1,195 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cannae during the 2nd quarter worth approximately $30,000. Allworth Financial LP purchased a new stake in Cannae during the 2nd quarter worth approximately $32,000. Essential Partners LLC raised its position in shares of Cannae by 2,913.0% in the 1st quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock valued at $32,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Cannae in the 2nd quarter valued at approximately $62,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Trading Up 1.2%

Shares of Cannae stock opened at $15.64 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. The firm has a market cap of $678.31 million, a price-to-earnings ratio of -5.18 and a beta of 1.20. The business has a fifty day simple moving average of $14.79 and a 200-day simple moving average of $13.60. Cannae Holdings, Inc. has a fifty-two week low of $10.46 and a fifty-two week high of $19.88.

Cannae (NYSE:CNNE) last released its earnings results on Monday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $1.28. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.The firm had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 3.8%. Cannae’s dividend payout ratio (DPR) is -19.87%.

Wall Street Analysts Forecast Growth

CNNE has been the subject of a number of analyst reports. Wall Street Zen upgraded Cannae from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Royal Bank Of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Cannae in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Cannae from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.50.

Cannae Company 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.