Cannae Holdings, Inc. (NYSE:CNNE) Stake Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 18.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,684 shares of the company’s stock after selling 51,322 shares during the quarter. Wedge Capital Management L L P NC owned 0.36% of Cannae worth $4,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNNE. CWM LLC raised its position in Cannae by 1,616.0% during the second quarter. CWM LLC now owns 1,390 shares of the company’s stock valued at $25,000 after buying an additional 1,309 shares during the period. EntryPoint Capital LLC grew its stake in Cannae by 48.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock valued at $36,000 after acquiring an additional 535 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Cannae in the 2nd quarter valued at about $48,000. nVerses Capital LLC purchased a new stake in shares of Cannae in the second quarter worth approximately $71,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Cannae during the first quarter worth approximately $79,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of CNNE opened at $18.45 on Wednesday. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $1.16 billion, a PE ratio of -3.39 and a beta of 0.88. The company’s 50 day moving average price is $19.14 and its 200 day moving average price is $19.24.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). The company had revenue of $118.00 million during the quarter, compared to analyst estimates of $112.00 million. Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The company’s revenue was down 22.8% compared to the same quarter last year. During the same period last year, the company posted ($1.16) earnings per share. Research analysts expect that Cannae Holdings, Inc. will post -3.03 EPS for the current fiscal year.

Cannae Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.12 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 2.60%. Cannae’s payout ratio is -8.82%.

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.