Cannae Holdings, Inc. (NYSE:CNNE) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 8.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,916 shares of the company’s stock after acquiring an additional 853 shares during the quarter. Park Avenue Securities LLC’s holdings in Cannae were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its holdings in shares of Cannae by 1.3% during the 4th quarter. DAVENPORT & Co LLC now owns 4,758,233 shares of the company’s stock worth $92,833,000 after buying an additional 62,486 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cannae by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 805,332 shares of the company’s stock worth $15,712,000 after acquiring an additional 15,295 shares during the period. Poehling Capital Management INC. increased its stake in Cannae by 8.9% during the fourth quarter. Poehling Capital Management INC. now owns 444,806 shares of the company’s stock worth $8,678,000 after acquiring an additional 36,191 shares during the last quarter. Norges Bank purchased a new stake in Cannae in the fourth quarter valued at $8,324,000. Finally, Wedge Capital Management L L P NC raised its position in Cannae by 1.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 381,044 shares of the company’s stock valued at $7,434,000 after purchasing an additional 6,115 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cannae

In other Cannae news, CEO Richard N. Massey sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the sale, the chief executive officer now directly owns 354,367 shares in the company, valued at approximately $7,377,920.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Richard N. Massey sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $19.63, for a total transaction of $588,900.00. Following the sale, the chief executive officer now directly owns 274,367 shares in the company, valued at $5,385,824.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the completion of the transaction, the chief executive officer now owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,802 shares of company stock worth $2,603,112. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their price objective on Cannae from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th.

Cannae Stock Performance

NYSE:CNNE opened at $17.92 on Tuesday. Cannae Holdings, Inc. has a fifty-two week low of $15.93 and a fifty-two week high of $22.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.06 and a current ratio of 3.32. The company has a 50 day moving average price of $18.98 and a 200 day moving average price of $20.18. The stock has a market capitalization of $1.12 billion, a P/E ratio of -3.29 and a beta of 0.92.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.94). Cannae had a negative net margin of 74.62% and a negative return on equity of 16.50%. The firm had revenue of $110.70 million during the quarter, compared to analyst estimates of $126.23 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was down 28.3% compared to the same quarter last year. Equities research analysts forecast that Cannae Holdings, Inc. will post -1.8 EPS for the current year.

Cannae Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 14th. Cannae’s payout ratio is -8.82%.

Cannae Company 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.