Verition Fund Management LLC Acquires New Stake in Cannae Holdings Inc (CNNE)
Verition Fund Management LLC acquired a new stake in shares of Cannae Holdings Inc (NYSE:CNNE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,291 shares of the company’s stock, valued at approximately $525,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNNE. Ancora Advisors LLC bought a new stake in shares of Cannae during the first quarter valued at approximately $15,331,000. FMR LLC grew its position in Cannae by 74.6% in the second quarter. FMR LLC now owns 1,538,233 shares of the company’s stock valued at $28,533,000 after acquiring an additional 657,480 shares during the period. Millennium Management LLC grew its position in Cannae by 386.1% in the second quarter. Millennium Management LLC now owns 373,622 shares of the company’s stock valued at $6,931,000 after acquiring an additional 296,765 shares during the period. Dimensional Fund Advisors LP grew its position in Cannae by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,313,702 shares of the company’s stock valued at $42,919,000 after acquiring an additional 275,125 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Cannae in the second quarter valued at $4,422,000. Institutional investors and hedge funds own 79.13% of the company’s stock.
Shares of NYSE:CNNE opened at $21.01 on Friday. Cannae Holdings Inc has a fifty-two week low of $16.16 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.33.
A number of brokerages have weighed in on CNNE. ValuEngine cut Cannae from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 16th. TheStreet upgraded Cannae from a “d+” rating to a “c-” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research upgraded Cannae from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th.
In other Cannae news, Director Richard N. Massey acquired 39,000 shares of Cannae stock in a transaction on Wednesday, August 15th. The shares were bought at an average price of $18.70 per share, with a total value of $729,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by insiders.
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 is based in Las Vegas, Nevada.
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