Palogic Value Management L.P. Sells 10,000 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Palogic Value Management L.P. lowered its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,000 shares of the company’s stock after selling 10,000 shares during the quarter. Cannae comprises 1.3% of Palogic Value Management L.P.’s holdings, making the stock its 19th biggest position. Palogic Value Management L.P. owned 0.28% of Cannae worth $3,476,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Cannae by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock worth $8,666,000 after buying an additional 44,691 shares in the last quarter. Barclays PLC increased its stake in Cannae by 221.9% in the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock valued at $1,818,000 after acquiring an additional 65,749 shares during the last quarter. Spire Wealth Management acquired a new position in Cannae during the fourth quarter valued at approximately $45,000. Strategic Financial Concepts LLC acquired a new stake in shares of Cannae in the 4th quarter valued at $281,000. Finally, State Street Corp boosted its holdings in shares of Cannae by 1.6% in the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company’s stock valued at $30,598,000 after purchasing an additional 25,403 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Cannae Trading Down 1.8 %

NYSE CNNE opened at $18.51 on Friday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -3.85 and a beta of 0.86. Cannae Holdings, Inc. has a twelve month low of $15.99 and a twelve month high of $22.99. 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 business’s fifty day moving average is $18.83 and its 200 day moving average is $19.46.

Cannae declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 25th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Cannae Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, March 17th. Cannae’s payout ratio is -10.17%.

Analysts Set New Price Targets

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

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.