Top 10 Restaurant Stocks to Buy Under $20

2. Cannae Holdings, Inc. (NYSE:CNNE)

Share Price: $16.99

Number of Hedge Fund Holders: 29

Cannae Holdings, Inc. (NYSE:CNNE) manages and operates a group of companies and investments. Its operations are divided into Restuarant Group, Dun & Bradstreet, Alight, Black Knight Football and Entertainment, Corporate, and Other. Its Restaurant Group manages the operations of O’Charley’s, 99 Restaurants, Legendary Baking Holdings I LLC, and VIBSQ Holdco LLC.

The company has undertaken various initiatives that reflect the strength of its operations. These include a Dutch tender auction where Cannae Holdings, Inc. (NYSE:CNNE) repurchased over $200 million of its shares, acquisition of a majority stake in the Watkins Company, initiation of a regular quarterly dividend, and consistent cash flow generation. It is also focusing on its portfolio companies to improve their values and raised $470 million of cash from portfolio company sales in the year to fund share repurchases and new investments to continually rebalance its portfolio.

In a report released on February 25, Ian Zaffino from Oppenheimer maintained a Buy rating on Cannae Holdings, Inc. (NYSE:CNNE) and set a price target of $27.00. It is the second-best restaurant stock to buy under $20.