Gabelli Funds LLC Purchases 90,741 Shares of Cannae Holdings, Inc. $CNNE

Gabelli Funds LLC boosted its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 90.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 191,152 shares of the company’s stock after acquiring an additional 90,741 shares during the quarter. Gabelli Funds LLC’s holdings in Cannae were worth $2,173,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Cannae by 83.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,963 shares of the company’s stock valued at $5,309,000 after purchasing an additional 132,166 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Cannae during the 1st quarter valued at about $1,258,000. Private Management Group Inc. lifted its stake in shares of Cannae by 8.5% in the 4th quarter. Private Management Group Inc. now owns 1,821,685 shares of the company’s stock worth $28,655,000 after purchasing an additional 142,025 shares during the period. Caxton Associates LLP lifted its stake in shares of Cannae by 33.8% in the 1st quarter. Caxton Associates LLP now owns 177,299 shares of the company’s stock worth $2,016,000 after purchasing an additional 44,756 shares during the period. Finally, Poehling Capital Management INC. lifted its stake in shares of Cannae by 46.4% in the 1st quarter. Poehling Capital Management INC. now owns 954,190 shares of the company’s stock worth $10,849,000 after purchasing an additional 302,494 shares during the period. Institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNNE. Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research report on Tuesday, May 12th. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Cannae in a report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.00.

Cannae Stock Performance

NYSE:CNNE opened at $14.87 on Thursday. The stock has a 50-day simple moving average of $14.44 and a two-hundred day simple moving average of $13.62. Cannae Holdings, Inc. has a 52-week low of $10.46 and a 52-week high of $21.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $653.52 million, a PE ratio of -1.90 and a beta of 1.20.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The company had revenue of $96.20 million during the quarter, compared to analysts’ expectations of $99.77 million. During the same quarter in the previous year, the company earned ($1.81) EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Analysts forecast that Cannae Holdings, Inc. will post -2.4 EPS for the current year.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.0%. Cannae’s payout ratio is -7.68%.

Cannae 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.