Cygnus Capital Advisors LLC Purchases 85,392 Shares of Cannae Holdings, Inc. $CNNE

Cygnus Capital Advisors LLC boosted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 39.7% during the second quarter, Holdings Channel reports. The institutional investor owned 300,240 shares of the company’s stock after acquiring an additional 85,392 shares during the quarter. Cannae comprises about 2.9% of Cygnus Capital Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Cygnus Capital Advisors LLC’s holdings in Cannae were worth $4,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNNE. BlackRock Inc. bought a new position in shares of Cannae during the 2nd quarter worth about $59,496,000. Assenagon Asset Management S.A. acquired a new stake in shares of Cannae during the 2nd quarter valued at about $1,062,000. Private Management Group Inc. boosted its position in shares of Cannae by 4.4% during the 2nd quarter. Private Management Group Inc. now owns 2,404,943 shares of the company’s stock valued at $34,631,000 after acquiring an additional 101,200 shares in the last quarter. PDT Partners LLC bought a new stake in Cannae in the second quarter valued at about $1,646,000. Finally, First Trust Advisors LP acquired a new position in Cannae in the first quarter worth about $936,000. Institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

NYSE CNNE opened at $15.82 on Tuesday. Cannae Holdings, Inc. has a 1-year low of $10.46 and a 1-year high of $19.88. The company has a 50 day moving average of $15.00 and a 200-day moving average of $13.69. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.07. The firm has a market cap of $686.11 million, a price-to-earnings ratio of -5.24 and a beta of 1.21.

Cannae (NYSE:CNNE) last announced its earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $1.28. The business had revenue of $102.20 million for the quarter, compared to the consensus estimate of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 16th. Cannae’s dividend payout ratio is presently -19.87%.

Analysts Set New Price Targets

A number of research analysts have commented on CNNE shares. Royal Bank Of Canada restated an “outperform” rating and set a $16.00 price target on shares of Cannae in a research note on Tuesday, August 11th. Wall Street Zen raised Cannae from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded Cannae from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.50.

About Cannae

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.