Private Management Group Inc. Grows Stock Holdings in Cannae Holdings, Inc. $CNNE

Private Management Group Inc. lifted its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,679,660 shares of the company’s stock after purchasing an additional 94,002 shares during the quarter. Private Management Group Inc. owned about 3.41% of Cannae worth $30,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNNE. Invesco Ltd. raised its stake in Cannae by 1.2% during the third quarter. Invesco Ltd. now owns 180,882 shares of the company’s stock valued at $3,312,000 after buying an additional 2,099 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Cannae in the third quarter worth $1,300,000. Yakira Capital Management Inc. purchased a new stake in shares of Cannae in the third quarter worth $701,000. Gabelli Funds LLC increased its holdings in shares of Cannae by 43.5% during the third quarter. Gabelli Funds LLC now owns 83,095 shares of the company’s stock valued at $1,521,000 after acquiring an additional 25,190 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Cannae by 39.6% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 74,700 shares of the company’s stock valued at $1,368,000 after acquiring an additional 21,200 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

Shares of CNNE opened at $11.51 on Friday. The company has a market cap of $533.03 million, a price-to-earnings ratio of -1.29 and a beta of 1.11. The business’s fifty day simple moving average is $13.97 and its two-hundred day simple moving average is $16.25. Cannae Holdings, Inc. has a 12 month low of $11.24 and a 12 month high of $21.96. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The business had revenue of $103.30 million during the quarter, compared to analysts’ expectations of $102.70 million. Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.74) EPS. Research analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, March 17th. Cannae’s dividend payout ratio (DPR) is presently -6.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNNE. Royal Bank Of Canada dropped their price target on shares of Cannae from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

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.