Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Down 15.2% in August

Cannae Holdings, Inc. (NYSE:CNNE) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,400,000 shares, a decrease of 15.2% from the August 15th total of 1,650,000 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average trading volume of 404,900 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CNNE. Charles Schwab Investment Management Inc. increased its position in Cannae by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 805,332 shares of the company’s stock valued at $15,712,000 after purchasing an additional 15,295 shares during the period. Principal Securities Inc. acquired a new stake in Cannae during the 4th quarter valued at approximately $36,000. Jump Financial LLC acquired a new stake in Cannae during the 4th quarter valued at approximately $611,000. Norges Bank acquired a new stake in Cannae during the 4th quarter valued at approximately $8,324,000. Finally, Quest Partners LLC acquired a new stake in Cannae during the 4th quarter valued at approximately $772,000. Institutional investors own 88.12% of the company’s stock.

Cannae Price Performance

Shares of CNNE stock traded down $0.16 on Wednesday, reaching $19.11. The company had a trading volume of 308,333 shares, compared to its average volume of 559,905. The stock has a market capitalization of $1.20 billion, a PE ratio of -3.51 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.04. Cannae has a one year low of $15.93 and a one year high of $22.99. The business’s 50-day moving average is $19.41 and its 200 day moving average is $19.70.

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

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.51%. Cannae’s dividend payout ratio (DPR) is presently -8.82%.

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.