JPMorgan Chase & Co. Grows Stock Holdings in Cannae Holdings, Inc. $CNNE

JPMorgan Chase & Co. boosted its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 83.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,963 shares of the company’s stock after buying an additional 132,166 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cannae were worth $5,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in shares of Cannae by 41.3% during the 2nd quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after acquiring an additional 615,616 shares during the period. Almitas Capital LLC increased its stake in Cannae by 73.4% in the 3rd quarter. Almitas Capital LLC now owns 556,688 shares of the company’s stock valued at $10,193,000 after purchasing an additional 235,702 shares in the last quarter. Carronade Capital Management LP increased its stake in Cannae by 5.7% in the 2nd quarter. Carronade Capital Management LP now owns 3,189,027 shares of the company’s stock valued at $66,491,000 after purchasing an additional 173,380 shares in the last quarter. Verition Fund Management LLC raised its holdings in Cannae by 50.6% during the third quarter. Verition Fund Management LLC now owns 345,236 shares of the company’s stock worth $6,321,000 after purchasing an additional 115,952 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings in Cannae by 70.8% during the third quarter. Citadel Advisors LLC now owns 271,619 shares of the company’s stock worth $4,973,000 after purchasing an additional 112,577 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Stock Up 0.9%

CNNE stock opened at $11.47 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 2.07. The company’s 50 day simple moving average is $12.72 and its 200-day simple moving average is $15.54. Cannae Holdings, Inc. has a 12 month low of $10.46 and a 12 month high of $21.96. The firm has a market capitalization of $531.21 million, a PE ratio of -1.29 and a beta of 1.11.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($1.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($1.55). Cannae had a negative return on equity of 31.78% and a negative net margin of 121.15%.The company had revenue of $103.30 million for the quarter, compared to analyst estimates of $102.70 million. During the same quarter in the prior year, the firm earned ($0.74) earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts expect that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, March 17th. Cannae’s payout ratio is -6.73%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank Of Canada decreased their target price on Cannae from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

Cannae Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.