PDT Partners LLC Makes New $1.65 Million Investment in Cannae Holdings, Inc. $CNNE

PDT Partners LLC purchased a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 114,284 shares of the company’s stock, valued at approximately $1,646,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Cannae by 147.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $29,000 after purchasing an additional 1,195 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Cannae by 0.5% during the second quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock valued at $5,574,000 after purchasing an additional 1,265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock valued at $613,000 after purchasing an additional 1,405 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Cannae in the second quarter valued at approximately $30,000. Finally, Invesco Ltd. raised its position in shares of Cannae by 1.2% in the third quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock valued at $3,312,000 after purchasing an additional 2,099 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Stock Performance

CNNE opened at $15.40 on Thursday. The stock has a market cap of $667.96 million, a PE ratio of -5.10 and a beta of 1.20. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.07. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $19.88. The stock’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $13.58.

Cannae (NYSE:CNNE) last issued its earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $99.65 million.

Cannae Dividend Announcement

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 paid a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.9%. Cannae’s dividend payout ratio is currently -19.87%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNNE. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Cannae from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $16.00 target price on shares of Cannae in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cannae has an average rating of “Hold” and an average target price of $16.50.

About Cannae

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.