Cannae (NYSE:CNNE) Sets New 1-Year Low After Analyst Downgrade

Cannae Holdings, Inc. (NYSE:CNNE) shares hit a new 52-week low on Monday after Oppenheimer lowered their price target on the stock from $27.00 to $22.00. Oppenheimer currently has an outperform rating on the stock. Cannae traded as low as $16.94 and last traded at $16.88, with a volume of 885566 shares traded. The stock had previously closed at $17.79.

Separately, Royal Bank of Canada cut their price objective on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th.

Institutional Trading of Cannae

Large investors have recently made changes to their positions in the stock. Ameriflex Group Inc. acquired a new stake in Cannae during the 4th quarter valued at $122,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cannae by 10.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,116 shares of the company’s stock valued at $3,438,000 after purchasing an additional 16,272 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Cannae during the 4th quarter valued at approximately $230,000. Two Sigma Advisers LP bought a new position in Cannae during the 4th quarter worth $451,000. Finally, Two Sigma Investments LP boosted its stake in Cannae by 357.8% during the 4th quarter. Two Sigma Investments LP now owns 67,328 shares of the company’s stock valued at $1,337,000 after purchasing an additional 52,621 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Down 5.0 %

The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.06 billion, a P/E ratio of -3.51 and a beta of 0.86. The business’s 50 day moving average is $19.37 and its two-hundred day moving average is $19.67.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, March 17th. Cannae’s dividend payout ratio (DPR) is currently -10.17%.

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.