Private Management Group Inc. Has $34.63 Million Position in Cannae Holdings, Inc. $CNNE

Private Management Group Inc. boosted its position in Cannae Holdings, Inc. (NYSE:CNNE) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,404,943 shares of the company’s stock after purchasing an additional 101,200 shares during the quarter. Private Management Group Inc. owned about 0.06% of Cannae worth $34,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Cannae by 147.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $29,000 after buying an additional 1,195 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cannae in the second quarter valued at about $30,000. Essential Partners LLC grew its stake in shares of Cannae by 2,913.0% in the first quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock valued at $32,000 after acquiring an additional 2,680 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Cannae in the second quarter valued at about $32,000. Finally, Parallel Advisors LLC acquired a new position in shares of Cannae in the first quarter valued at about $50,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Stock Performance

NYSE:CNNE opened at $15.64 on Friday. The stock has a fifty day moving average price of $14.79 and a 200-day moving average price of $13.60. The company has a market cap of $678.37 million, a price-to-earnings ratio of -5.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.24 and a current ratio of 1.24. 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 issued its quarterly earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $1.28. The company had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Cannae Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Cannae’s dividend payout ratio (DPR) is currently -19.87%.

Analyst Ratings Changes

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