Confluence Investment Management LLC Acquires New Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Confluence Investment Management LLC acquired a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 135,447 shares of the company’s stock, valued at approximately $3,012,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Simplex Trading LLC acquired a new stake in Cannae in the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Cannae in the fourth quarter worth about $36,000. SRS Capital Advisors Inc. raised its stake in shares of Cannae by 22.2% in the third quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock worth $69,000 after purchasing an additional 669 shares during the last quarter. TFO Wealth Partners LLC raised its stake in shares of Cannae by 103,775.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,155 shares of the company’s stock worth $78,000 after purchasing an additional 4,151 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cannae in the third quarter worth about $114,000. Institutional investors own 88.12% of the company’s stock.

Cannae Trading Down 0.3 %

Shares of NYSE:CNNE traded down $0.06 during trading on Tuesday, hitting $17.32. The stock had a trading volume of 228,367 shares, compared to its average volume of 648,340. Cannae Holdings, Inc. has a 12-month low of $15.93 and a 12-month high of $22.99. The company has a current ratio of 3.32, a quick ratio of 3.06 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $19.45 and a two-hundred day simple moving average of $20.25.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.94). The company had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $126.23 million. Cannae had a negative net margin of 74.62% and a negative return on equity of 16.50%. The firm’s revenue was down 28.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Sell-side analysts predict that Cannae Holdings, Inc. will post -1.8 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 14th. Cannae’s dividend payout ratio is currently -8.82%.

Analyst Upgrades and Downgrades

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

Insider Activity at Cannae

In other news, CEO Richard N. Massey sold 23,050 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the sale, the chief executive officer now directly owns 404,367 shares in the company, valued at $8,317,829.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard N. Massey sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard N. Massey sold 23,050 shares of Cannae stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the sale, the chief executive officer now directly owns 404,367 shares in the company, valued at $8,317,829.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,802 shares of company stock worth $2,603,112. 10.90% of the stock is owned by corporate insiders.

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.