Poehling Capital Management INC. Reduces Stake in Cannae Holdings, Inc. $CNNE

Poehling Capital Management INC. trimmed its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,696 shares of the company’s stock after selling 183,583 shares during the period. Cannae comprises about 2.1% of Poehling Capital Management INC.’s portfolio, making the stock its 10th largest position. Poehling Capital Management INC. owned approximately 1.32% of Cannae worth $10,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNNE. Quantbot Technologies LP bought a new stake in shares of Cannae in the 2nd quarter valued at about $62,000. Kelleher Financial Advisors bought a new stake in shares of Cannae in the 3rd quarter valued at about $73,000. AlphaQuest LLC boosted its holdings in shares of Cannae by 62.0% in the 3rd quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock valued at $106,000 after buying an additional 2,212 shares in the last quarter. CWM LLC boosted its holdings in shares of Cannae by 79.9% in the 4th quarter. CWM LLC now owns 7,313 shares of the company’s stock valued at $115,000 after buying an additional 3,248 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Cannae by 27.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock valued at $231,000 after buying an additional 2,716 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cannae Stock Up 0.8%

CNNE stock opened at $13.34 on Wednesday. The firm has a 50 day moving average of $12.43 and a 200 day moving average of $14.27. The stock has a market capitalization of $585.94 million, a PE ratio of -1.71 and a beta of 1.18. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.07. Cannae Holdings, Inc. has a 52 week low of $10.46 and a 52 week high of $21.96.

Cannae (NYSE:CNNE) last released its earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). The company had revenue of $96.20 million during the quarter, compared to analyst estimates of $99.77 million. Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.81) earnings per share. Sell-side analysts forecast that Cannae Holdings, Inc. will post -2.4 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.5%. Cannae’s dividend payout ratio (DPR) is -7.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a report on Wednesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Cannae in a research report on Tuesday, May 12th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Cannae in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cannae presently has an average rating of “Hold” and an average target price of $17.00.

Cannae Company 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.