Richard N. Massey Buys 20,000 Shares of Cannae Holdings Inc (CNNE) Stock

Cannae Holdings Inc (NYSE:CNNE) Director Richard N. Massey bought 20,000 shares of Cannae stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $25.15 per share, with a total value of $503,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of CNNE stock traded up $0.48 during trading hours on Tuesday, reaching $25.40. The company had a trading volume of 1,367 shares, compared to its average volume of 232,175. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.82 and a quick ratio of 2.68. The firm has a market capitalization of $1.80 billion, a PE ratio of 36.75 and a beta of 0.80. Cannae Holdings Inc has a 12-month low of $15.87 and a 12-month high of $26.90.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $296.85 million. Cannae had a net margin of 2.28% and a return on equity of 4.15%. Cannae’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. On average, equities research analysts expect that Cannae Holdings Inc will post 0.4 EPS for the current year.



A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Cannae from a “c” rating to a “b” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, March 14th. Finally, ValuEngine lowered Cannae from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th.

Several hedge funds have recently bought and sold shares of CNNE. Teachers Advisors LLC grew its position in shares of Cannae by 23.4% in the third quarter. Teachers Advisors LLC now owns 255,468 shares of the company’s stock valued at $5,352,000 after purchasing an additional 48,513 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Cannae by 9.9% in the third quarter. TIAA CREF Investment Management LLC now owns 272,915 shares of the company’s stock worth $5,718,000 after acquiring an additional 24,497 shares during the period. Legal & General Group Plc grew its position in Cannae by 28.3% in the third quarter. Legal & General Group Plc now owns 26,871 shares of the company’s stock worth $563,000 after acquiring an additional 5,922 shares during the period. Meeder Asset Management Inc. purchased a new position in Cannae in the fourth quarter worth approximately $41,000. Finally, Raymond James Trust N.A. grew its position in Cannae by 4.8% in the fourth quarter. Raymond James Trust N.A. now owns 12,507 shares of the company’s stock worth $214,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 82.32% of the company’s stock.

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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 is based in Las Vegas, Nevada.

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