Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Grows By 5.1%

Cannae Holdings, Inc. (NYSE:CNNE) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,840,000 shares, a growth of 5.1% from the May 15th total of 1,750,000 shares. Based on an average daily trading volume, of 656,200 shares, the short-interest ratio is presently 2.8 days. Approximately 3.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Oppenheimer upped their price objective on shares of Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th.

Insiders Place Their Bets

In other news, CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total value of $1,041,000.00. Following the transaction, the chief executive officer now directly owns 354,367 shares in the company, valued at $7,377,920.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard N. Massey sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total value of $1,041,000.00. Following the sale, the chief executive officer now owns 354,367 shares of the company’s stock, valued at $7,377,920.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard N. Massey sold 30,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the sale, the chief executive officer now owns 274,367 shares in the company, valued at approximately $5,385,824.21. The disclosure for this sale can be found here. Insiders sold 128,802 shares of company stock valued at $2,603,112 over the last quarter. Insiders own 10.90% of the company’s stock.

Institutional Trading of Cannae

A number of institutional investors have recently modified their holdings of CNNE. Simplex Trading LLC purchased a new stake in shares of Cannae in the 4th quarter valued at about $27,000. Principal Securities Inc. purchased a new position in Cannae in the 4th quarter worth approximately $36,000. EntryPoint Capital LLC lifted its position in Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock valued at $36,000 after purchasing an additional 535 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Cannae by 22.2% during the third quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock valued at $69,000 after purchasing an additional 669 shares during the period. Finally, TFO Wealth Partners LLC grew its holdings in shares of Cannae by 103,775.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,155 shares of the company’s stock worth $78,000 after purchasing an additional 4,151 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cannae Price Performance

Shares of Cannae stock traded down $0.11 during midday trading on Tuesday, hitting $17.27. 644,239 shares of the company traded hands, compared to its average volume of 651,894. The firm’s fifty day moving average price is $19.45 and its 200-day moving average price is $20.25. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -3.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.06 and a current ratio of 3.32. Cannae has a 12 month low of $15.93 and a 12 month high of $22.99.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.94). Cannae had a negative net margin of 74.62% and a negative return on equity of 16.50%. The firm had revenue of $110.70 million for the quarter, compared to the consensus estimate of $126.23 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was down 28.3% on a year-over-year basis. As a group, sell-side analysts forecast that Cannae will post -1.8 earnings per share for the current year.

Cannae Announces Dividend

The business also recently announced a — dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 14th. Cannae’s dividend payout ratio is currently -8.82%.

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.