Cannae (NYSE:CNNE) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Cannae Holdings, Inc. (NYSE:CNNE) saw unusually-strong trading volume on Wednesday . Approximately 886,579 shares changed hands during trading, an increase of 184% from the previous session’s volume of 312,602 shares.The stock last traded at $19.57 and had previously closed at $19.10.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada decreased their price target on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday.

Cannae Trading Up 2.3 %

The stock has a 50 day simple moving average of $19.51 and a 200-day simple moving average of $19.68. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.23 billion, a P/E ratio of -4.06 and a beta of 0.87.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, March 17th. Cannae’s dividend payout ratio (DPR) is currently -9.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNNE. Spire Wealth Management acquired a new position in Cannae during the 4th quarter valued at about $45,000. Oakview Capital Management L.P. purchased a new stake in shares of Cannae in the third quarter valued at about $67,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Cannae in the fourth quarter valued at approximately $76,000. R Squared Ltd acquired a new stake in shares of Cannae during the 4th quarter valued at approximately $78,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Cannae by 133.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company’s stock valued at $85,000 after buying an additional 2,436 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

About Cannae

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.