Wedge Capital Management L L P NC Sells 37,555 Shares of Cannae Holdings, Inc. $CNNE

Wedge Capital Management L L P NC trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 22.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,849 shares of the company’s stock after selling 37,555 shares during the period. Wedge Capital Management L L P NC owned 0.21% of Cannae worth $2,770,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Cannae by 460.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company’s stock worth $38,000 after acquiring an additional 1,700 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Cannae during the 1st quarter worth $49,000. Spire Wealth Management boosted its holdings in shares of Cannae by 81.4% during the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock worth $75,000 after buying an additional 1,840 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Cannae during the 4th quarter worth $122,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Cannae by 2,236.9% during the 1st quarter. GAMMA Investing LLC now owns 8,413 shares of the company’s stock worth $154,000 after buying an additional 8,053 shares during the period. 88.12% of the stock is owned by institutional investors.

Cannae Trading Down 2.3%

Shares of CNNE stock opened at $19.09 on Monday. Cannae Holdings, Inc. has a 12-month low of $15.91 and a 12-month high of $22.36. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.85 and a beta of 1.08. The firm has a 50-day moving average price of $19.70 and a 200 day moving average price of $18.94. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05.

Cannae Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 16th. This is a boost from Cannae’s previous quarterly dividend of $0.12. Cannae’s dividend payout ratio is -8.96%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNNE. Royal Bank Of Canada upped their price objective on shares of Cannae from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. Zacks Research downgraded shares of Cannae from a “hold” rating to a “strong sell” rating in a report on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.00.

Insiders Place Their Bets

In other Cannae news, Director Frank R. Martire sold 26,478 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.43, for a total value of $487,989.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.90% of the company’s stock.

Cannae Profile

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.