Gamco Investors INC. ET AL Has $467,000 Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Gamco Investors INC. ET AL decreased its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,500 shares of the company’s stock after selling 8,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Cannae were worth $467,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CNNE. Royal Bank of Canada cut their target price on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Oppenheimer cut their price objective on Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th.

Cannae Stock Down 0.2 %

Shares of NYSE:CNNE opened at $17.33 on Friday. Cannae Holdings, Inc. has a 12 month low of $15.92 and a 12 month high of $22.36. The firm has a market cap of $1.09 billion, a P/E ratio of -3.60 and a beta of 0.89. 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 company’s 50-day moving average price is $18.11 and its two-hundred day moving average price is $19.25.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, March 17th. Cannae’s dividend payout ratio is currently -10.17%.

Cannae declared that its board 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 buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.