AlphaQuest LLC Grows Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

AlphaQuest LLC raised its position in Cannae Holdings, Inc. (NYSE:CNNE) by 29.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,880 shares of the company’s stock after purchasing an additional 6,774 shares during the period. AlphaQuest LLC’s holdings in Cannae were worth $593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in Cannae in the 4th quarter valued at about $45,000. Oakview Capital Management L.P. purchased a new position in Cannae in the 3rd quarter valued at about $67,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Cannae in the 4th quarter valued at about $76,000. R Squared Ltd purchased a new position in Cannae in the 4th quarter valued at about $78,000. Finally, Blue Trust Inc. lifted its holdings in Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock valued at $94,000 after purchasing an additional 4,062 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNNE has been the topic of several recent analyst reports. Royal Bank of Canada cut their price objective on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Oppenheimer cut their price objective 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 Trading Down 3.0 %

Shares of CNNE stock opened at $16.35 on Wednesday. The firm has a market cap of $1.03 billion, a P/E ratio of -3.40 and a beta of 0.86. Cannae Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $22.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The firm’s 50-day simple moving average is $19.24 and its 200-day simple moving average is $19.63.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 2.94%. Cannae’s payout ratio 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.