Cannae Holdings, Inc. (NYSE:CNNE) Sees Significant Drop in Short Interest

Cannae Holdings, Inc. (NYSE:CNNE) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,470,000 shares, a drop of 8.1% from the September 15th total of 1,600,000 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 361,800 shares, the days-to-cover ratio is currently 4.1 days.

Cannae Stock Performance

Cannae stock opened at $19.68 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $1.24 billion, a P/E ratio of -3.62 and a beta of 0.88. Cannae has a fifty-two week low of $15.93 and a fifty-two week high of $22.99. The firm’s 50 day simple moving average is $19.13 and its 200-day simple moving average is $19.24.

Cannae (NYSE:CNNE) last announced its earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($2.32). The firm had revenue of $118.00 million for the quarter, compared to analyst estimates of $112.00 million. Cannae had a negative net margin of 93.69% and a negative return on equity of 14.30%. Cannae’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.16) earnings per share. As a group, equities research analysts predict that Cannae will post -3.03 EPS for the current year.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.12 per share. The ex-dividend date was Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.44%. Cannae’s payout ratio is presently -8.82%.

Hedge Funds Weigh In On Cannae

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Cannae by 1,616.0% during the second quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after purchasing an additional 1,309 shares during the period. EntryPoint Capital LLC increased its stake in shares of Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after acquiring an additional 535 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Cannae during the second quarter worth $48,000. nVerses Capital LLC acquired a new stake in Cannae during the second quarter valued at $71,000. Finally, Financial Management Professionals Inc. acquired a new stake in Cannae during the first quarter valued at $79,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Company Profile

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.