Pacific Capital Partners Ltd Invests $1.42 Million in Cannae Holdings, Inc. $CNNE

Pacific Capital Partners Ltd bought a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,500 shares of the company’s stock, valued at approximately $1,419,000. Cannae comprises 1.6% of Pacific Capital Partners Ltd’s investment portfolio, making the stock its 25th largest position. Pacific Capital Partners Ltd owned approximately 0.14% of Cannae at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rubric Capital Management LP increased its holdings in shares of Cannae by 41.3% in the second quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after buying an additional 615,616 shares in the last quarter. Carronade Capital Management LP grew its holdings in shares of Cannae by 5.7% in the 2nd quarter. Carronade Capital Management LP now owns 3,189,027 shares of the company’s stock worth $66,491,000 after acquiring an additional 173,380 shares during the last quarter. Alberta Investment Management Corp raised its position in shares of Cannae by 35.3% during the second quarter. Alberta Investment Management Corp now owns 575,000 shares of the company’s stock worth $11,989,000 after purchasing an additional 150,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Cannae during the second quarter valued at $1,115,000. Finally, Jump Financial LLC lifted its holdings in shares of Cannae by 353.3% during the second quarter. Jump Financial LLC now owns 64,606 shares of the company’s stock valued at $1,347,000 after purchasing an additional 50,353 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Zacks Research raised Cannae from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada dropped their target price on shares of Cannae from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Friday. Two research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.50.

Cannae Price Performance

NYSE CNNE opened at $16.26 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $801.34 million, a price-to-earnings ratio of -2.10 and a beta of 1.11. The company has a 50 day simple moving average of $16.11 and a 200-day simple moving average of $18.24. Cannae Holdings, Inc. has a 52-week low of $15.05 and a 52-week high of $21.96.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.94). The company had revenue of $106.90 million during the quarter, compared to analyst estimates of $104.80 million. Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) EPS. Equities research analysts predict that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, December 17th. Cannae’s dividend payout ratio (DPR) is currently -7.76%.

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.