Factorial Partners LLC Cuts Position in Cannae Holdings, Inc. (NYSE:CNNE)

Factorial Partners LLC cut its position in Cannae Holdings, Inc. (NYSE:CNNE) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,177 shares of the company’s stock after selling 18,000 shares during the quarter. Cannae accounts for 1.9% of Factorial Partners LLC’s holdings, making the stock its 23rd largest holding. Factorial Partners LLC’s holdings in Cannae were worth $3,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp acquired a new position in Cannae in the 1st quarter valued at about $7,790,000. XTX Topco Ltd grew its holdings in shares of Cannae by 470.9% in the first quarter. XTX Topco Ltd now owns 61,541 shares of the company’s stock valued at $1,128,000 after purchasing an additional 50,762 shares in the last quarter. Private Management Group Inc. increased its stake in Cannae by 91.1% during the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company’s stock worth $29,352,000 after buying an additional 763,324 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Cannae during the 1st quarter worth approximately $1,507,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cannae in the 1st quarter valued at approximately $762,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Stock Up 1.0%

Shares of Cannae stock opened at $20.92 on Tuesday. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.04. Cannae Holdings, Inc. has a 52-week low of $15.91 and a 52-week high of $22.36. The company has a market capitalization of $1.31 billion, a P/E ratio of -3.98 and a beta of 1.06. The company has a 50 day moving average of $20.45 and a 200 day moving average of $19.06.

Cannae (NYSE:CNNE) last issued its earnings results on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). The firm had revenue of $103.20 million for the quarter, compared to analyst estimates of $105.30 million. Cannae had a negative return on equity of 4.86% and a negative net margin of 73.64%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.27) EPS. As a group, research analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 16th. Cannae’s dividend payout ratio (DPR) is -9.13%.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada increased their price objective on Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th.

About Cannae

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 was founded in 2014 and is based in Las Vegas, Nevada.