Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Update

Cannae Holdings, Inc. (NYSE:CNNE) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,120,000 shares, an increase of 15.2% from the May 31st total of 1,840,000 shares. Based on an average trading volume of 631,200 shares, the short-interest ratio is currently 3.4 days. Approximately 3.8% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Cannae Trading Up 0.9 %

CNNE stock opened at $18.14 on Monday. The business has a fifty day moving average price of $19.01 and a 200 day moving average price of $20.20. Cannae has a fifty-two week low of $15.93 and a fifty-two week high of $22.99. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.32 and a quick ratio of 3.06.

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

Cannae Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.12 dividend. The ex-dividend date was Friday, June 14th. Cannae’s payout ratio is -8.82%.

Insider Buying and Selling at Cannae

In other news, Director Richard N. Massey sold 25,752 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $19.38, for a total value of $499,073.76. Following the completion of the transaction, the director now directly owns 248,615 shares of the company’s stock, valued at approximately $4,818,158.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Richard N. Massey sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 274,367 shares of the company’s stock, valued at approximately $5,385,824.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Massey sold 25,752 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $19.38, for a total value of $499,073.76. Following the completion of the transaction, the director now directly owns 248,615 shares of the company’s stock, valued at $4,818,158.70. The disclosure for this sale can be found here. Insiders sold a total of 128,802 shares of company stock valued at $2,603,112 in the last quarter. Corporate insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CNNE. Deutsche Bank AG boosted its position in Cannae by 10.8% in the 3rd quarter. Deutsche Bank AG now owns 41,320 shares of the company’s stock valued at $770,000 after buying an additional 4,033 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Cannae by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 117,965 shares of the company’s stock worth $2,199,000 after purchasing an additional 1,219 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Cannae by 61.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 162,516 shares of the company’s stock worth $3,029,000 after purchasing an additional 61,628 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Cannae in the 3rd quarter worth $510,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Cannae by 22.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock worth $69,000 after purchasing an additional 669 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

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.