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

Cannae Holdings, Inc. (NYSE:CNNE) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,340,000 shares, a drop of 8.8% from the September 30th total of 1,470,000 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 365,000 shares, the days-to-cover ratio is presently 3.7 days.

Cannae Stock Up 3.2 %

CNNE stock opened at $19.85 on Friday. The business’s 50-day moving average price is $19.14 and its 200-day moving average price is $19.11. The stock has a market cap of $1.25 billion, a P/E ratio of -3.65 and a beta of 0.88. Cannae has a twelve month low of $16.02 and a twelve month high of $22.99. 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 (NYSE:CNNE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). The firm 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 business’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.16) earnings per share. On average, equities research analysts forecast that Cannae will post -3.03 EPS for the current year.

Institutional Investors Weigh In On Cannae

A number of institutional investors and hedge funds have recently bought and sold shares of the business. River Road Asset Management LLC lifted its holdings in shares of Cannae by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock worth $107,977,000 after buying an additional 50,150 shares in the last quarter. Rubric Capital Management LP lifted its stake in Cannae by 17.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock worth $25,945,000 after purchasing an additional 216,031 shares in the last quarter. AREX Capital Management LP boosted its holdings in shares of Cannae by 52.2% during the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock valued at $22,866,000 after purchasing an additional 432,260 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Cannae during the second quarter valued at about $18,611,000. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Cannae by 45.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock worth $13,133,000 after purchasing an additional 225,161 shares during the last quarter. 88.12% of the stock is 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.