Centiva Capital LP Trims Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Centiva Capital LP trimmed its position in Cannae Holdings, Inc. (NYSE:CNNE) by 74.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,152 shares of the company’s stock after selling 304,573 shares during the period. Centiva Capital LP owned about 0.17% of Cannae worth $1,985,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. River Road Asset Management LLC lifted its holdings in shares of Cannae by 0.9% during the 3rd quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock worth $107,977,000 after acquiring an additional 50,150 shares during the period. FMR LLC lifted its holdings in shares of Cannae by 17.6% during the 3rd quarter. FMR LLC now owns 2,653,854 shares of the company’s stock worth $50,582,000 after acquiring an additional 397,352 shares during the period. Rubric Capital Management LP lifted its holdings in shares of Cannae by 17.8% during the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock worth $25,945,000 after acquiring an additional 216,031 shares during the period. AREX Capital Management LP lifted its holdings in shares of Cannae by 52.2% during the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after acquiring an additional 432,260 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Cannae during the 2nd quarter worth about $18,611,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

Cannae Trading Down 0.2 %

CNNE opened at $21.65 on Tuesday. The firm has a 50 day moving average price of $19.84 and a 200 day moving average price of $19.23. Cannae Holdings, Inc. has a 1 year low of $16.94 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.

Cannae (NYSE:CNNE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The firm had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.18) EPS. Analysts forecast that Cannae Holdings, Inc. will post -2.97 EPS for the current year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

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.