156,543 Cannae Holdings, Inc. $CNNE Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,248,400 shares of the company’s stock after selling 156,543 shares during the period. Private Management Group Inc. owned about 0.06% of Cannae worth $34,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new position in Cannae during the second quarter valued at approximately $1,460,000. Cygnus Capital Advisors LLC lifted its stake in Cannae by 39.7% during the second quarter. Cygnus Capital Advisors LLC now owns 300,240 shares of the company’s stock worth $4,323,000 after purchasing an additional 85,392 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Cannae in the 2nd quarter valued at $59,496,000. Bank of New York Mellon Corp acquired a new stake in shares of Cannae in the 2nd quarter valued at $2,222,000. Finally, PDT Partners LLC acquired a new stake in shares of Cannae in the 2nd quarter valued at $1,646,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Price Performance

Shares of Cannae stock opened at $17.60 on Tuesday. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $18.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $16.03 and its 200 day moving average is $14.28.

Cannae (NYSE:CNNE) last posted its earnings results on Monday, August 10th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $1.28. The firm had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $99.65 million. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%.

Cannae Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, December 17th. Cannae’s dividend payout ratio is presently -19.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CNNE. Weiss Ratings lowered Cannae from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded Cannae from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada raised their price objective on Cannae from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

About Cannae

Cannae Holdings, Inc is a diversified investment company that manages a portfolio of operating businesses and strategic investments. The company focuses on sectors including restaurants, financial services, payments, and business services, with the goal of building long-term value through active ownership and capital allocation.

Cannae has held interests in a range of companies, including restaurant operators, payment technology businesses, and providers of financial and business services.