Cannae (NYSE:CNNE) Trading 6.5% Higher – Time to Buy?

Cannae Holdings, Inc. (NYSE:CNNE) shares traded up 6.5% on Friday . The stock traded as high as $18.73 and last traded at $18.58. 864,768 shares were traded during mid-day trading, an increase of 91% from the average session volume of 453,569 shares. The stock had previously closed at $17.45.

Analyst Ratings Changes

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

Cannae Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a fifty day moving average of $18.84 and a 200-day moving average of $19.47. The company has a market cap of $1.18 billion, a PE ratio of -3.91 and a beta of 0.86.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, March 17th. Cannae’s payout ratio is presently -10.17%.

Institutional Investors Weigh In On Cannae

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management purchased a new position in shares of Cannae during the fourth quarter worth approximately $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Cannae in the fourth quarter worth approximately $76,000. R Squared Ltd purchased a new position in Cannae during the 4th quarter worth $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 period. 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. Institutional investors own 88.12% of the company’s stock.

About Cannae

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.