Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey Sells 30,000 Shares of Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $19.63, for a total value of $588,900.00. Following the completion of the sale, the chief executive officer now owns 274,367 shares in the company, valued at $5,385,824.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cannae Price Performance

Shares of NYSE CNNE opened at $19.43 on Thursday. Cannae Holdings, Inc. 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 $21.44 and its 200 day simple moving average is $19.76. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.41 billion, a P/E ratio of -4.60 and a beta of 0.89.

Cannae (NYSE:CNNE) last released its earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.17). The firm had revenue of $119.30 million for the quarter, compared to analyst estimates of $133.50 million. Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. Equities analysts expect that Cannae Holdings, Inc. will post -0.93 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Cannae by 0.7% during the first quarter. Vanguard Group Inc. now owns 7,196,459 shares of the company’s stock worth $172,140,000 after acquiring an additional 51,983 shares during the period. BlackRock Inc. grew its holdings in Cannae by 1.3% during the first quarter. BlackRock Inc. now owns 6,810,406 shares of the company’s stock worth $162,903,000 after acquiring an additional 84,346 shares during the period. DAVENPORT & Co LLC grew its holdings in Cannae by 1.3% during the fourth quarter. DAVENPORT & Co LLC now owns 4,758,233 shares of the company’s stock worth $92,833,000 after acquiring an additional 62,486 shares during the period. Newtyn Management LLC grew its holdings in Cannae by 19.6% during the fourth quarter. Newtyn Management LLC now owns 3,430,163 shares of the company’s stock worth $66,922,000 after acquiring an additional 561,752 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Cannae by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,261 shares of the company’s stock worth $45,589,000 after purchasing an additional 19,392 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

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.