Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Increases By 5.1%

Cannae Holdings, Inc. (NYSE:CNNEGet Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,840,000 shares, a growth of 5.1% from the May 15th total of 1,750,000 shares. Based on an average daily trading volume, of 656,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.3% of the company’s shares are short sold.

Cannae Stock Down 0.6 %

Cannae stock traded down $0.11 during midday trading on Wednesday, reaching $17.27. 644,286 shares of the company traded hands, compared to its average volume of 431,143. The business has a 50 day moving average of $19.37 and a two-hundred day moving average of $20.24. Cannae has a 12 month low of $15.93 and a 12 month high of $22.99. The company has a quick ratio of 3.06, a current ratio of 3.32 and a debt-to-equity ratio of 0.03.

Cannae (NYSE:CNNEGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.94). The company had revenue of $110.70 million for 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 revenue for the quarter was down 28.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. Analysts anticipate that Cannae will post -1.8 earnings per share for the current year.

Cannae Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.12 dividend. The ex-dividend date is Friday, June 14th. Cannae’s payout ratio is presently -8.82%.

Insider Activity at Cannae

In other Cannae news, CEO Richard N. Massey sold 23,050 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $20.57, for a total value of $474,138.50. Following the sale, the chief executive officer now owns 404,367 shares in the company, valued at $8,317,829.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cannae news, CEO Richard N. Massey sold 23,050 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $20.57, for a total value of $474,138.50. Following the sale, the chief executive officer now owns 404,367 shares in the company, valued at $8,317,829.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard N. Massey sold 30,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total transaction of $588,900.00. Following the completion of the sale, the chief executive officer now owns 274,367 shares in the company, valued at approximately $5,385,824.21. The disclosure for this sale can be found here. Insiders have sold 128,802 shares of company stock worth $2,603,112 over the last 90 days. 10.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNNE. Barclays PLC raised its position in Cannae by 7.9% in the third quarter. Barclays PLC now owns 40,909 shares of the company’s stock worth $762,000 after acquiring an additional 3,009 shares during the period. Swiss National Bank increased its stake in shares of Cannae by 1.3% in the third quarter. Swiss National Bank now owns 159,694 shares of the company’s stock worth $2,977,000 after purchasing an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cannae by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 790,037 shares of the company’s stock worth $14,726,000 after purchasing an additional 2,513 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Cannae by 10.8% in the third quarter. Deutsche Bank AG now owns 41,320 shares of the company’s stock worth $770,000 after purchasing an additional 4,033 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cannae by 1.0% in the third quarter. Rhumbline Advisers now owns 117,965 shares of the company’s stock worth $2,199,000 after purchasing an additional 1,219 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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Cannae Company Profile

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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.

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