Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Ancora Advisors LLC

Ancora Advisors LLC cut its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 70.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,664 shares of the company’s stock after selling 271,089 shares during the period. Ancora Advisors LLC’s holdings in Cannae were worth $2,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Cannae in the 4th quarter valued at about $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Cannae in the fourth quarter valued at approximately $76,000. R Squared Ltd acquired a new stake in Cannae in the fourth quarter valued at approximately $78,000. Nomura Asset Management Co. Ltd. lifted its stake in Cannae by 133.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock worth $85,000 after acquiring an additional 2,436 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Cannae by 457.9% during the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock worth $94,000 after acquiring an additional 4,062 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of Cannae stock opened at $18.12 on Monday. The firm has a market capitalization of $1.14 billion, a P/E ratio of -3.77 and a beta of 1.03. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a 52 week low of $15.92 and a 52 week high of $22.36. The firm’s 50 day moving average is $17.73 and its two-hundred day moving average is $19.18.

Cannae declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 25th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.65%. Cannae’s dividend payout ratio is currently -10.17%.

Wall Street Analysts Forecast Growth

CNNE has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Oppenheimer cut their price target on Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

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.