Cannae Holdings Cuts Stake in Paysafe Ltd (PSFE)

Fintel reports that Cannae Holdings, Inc. (CNNE) has filed a 13D/A form with the SEC disclosing ownership of 40,558,641 shares of Paysafe Ltd (PSFE). This represents 5.58% of the company.

In their previous filing dated January 3, 2022 they reported 64,758,641 shares and 8.89% of the company, a decrease in shares of 37.37% and a decrease in total ownership of 3.31% (calculated as current – previous percent ownership).

Paysafe Limited (“Paysafe”) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions.

With over 20 years of online payment experience, an annualised transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world.

What are other large shareholders doing?

Blackstone Group Inc holds 130,976,349 shares representing 18.01% ownership of the company. No change in the last quarter.

Fidelity National Financial, Inc. holds 50,000,000 shares representing 6.88% ownership of the company. No change in the last quarter.

Francisco Partners Management, LP holds 20,646,512 shares representing 2.84% ownership of the company. No change in the last quarter.

State Street Corp holds 7,833,130 shares representing 1.08% ownership of the company. In it’s prior filing, the firm reported owning 6,253,881 shares, representing an increase of 20.16%. The firm decreased its portfolio allocation in PSFE by 12.70% over the last quarter.

What is the overall institutional sentiment?

There are 312 funds or institutions reporting positions in Paysafe Ltd. This is a decrease of 4 owner(s) or 1.27%.

Average portfolio weight of all funds dedicated to Paysafe Ltd is 0.1043%, a decrease of 12.3781%. Total shares owned by institutions increased in the last three months by 1.87% to 305,408,497 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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