Palogic Value Management L.P. Sells 10,000 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Palogic Value Management L.P. reduced its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 5.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 175,000 shares of the company’s stock after selling 10,000 shares during the quarter. Cannae comprises about 1.4% of Palogic Value Management L.P.’s portfolio, making the stock its 18th largest holding. Palogic Value Management L.P.’s holdings in Cannae were worth $3,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Spire Wealth Management purchased a new position in Cannae during the 4th quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Cannae during the 4th quarter worth $76,000. R Squared Ltd purchased a new position in Cannae during the 4th quarter worth $78,000. Blue Trust Inc. increased its holdings in Cannae by 457.9% during the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock worth $94,000 after purchasing an additional 4,062 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock worth $104,000 after purchasing an additional 1,198 shares during the period. 88.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CNNE. Oppenheimer reduced their price objective on Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Royal Bank of Canada reduced their price objective on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th.

Cannae Trading Up 2.8 %

Shares of NYSE:CNNE opened at $17.45 on Friday. Cannae Holdings, Inc. has a 12-month low of $15.99 and a 12-month high of $22.99. The business’s fifty day simple moving average is $18.83 and its 200-day simple moving average is $19.48. The company has a market capitalization of $1.10 billion, a PE ratio of -3.63 and a beta of 0.86. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.75%. Cannae’s dividend payout ratio is presently -10.17%.

Cannae 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.