Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Drops By 14.3%

Cannae Holdings, Inc. (NYSE:CNNE) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 1,380,000 shares, a decrease of 14.3% from the June 30th total of 1,610,000 shares. Based on an average daily volume of 471,100 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.5% of the shares of the stock are sold short.

Cannae Price Performance

Shares of NYSE CNNE traded down $0.20 during midday trading on Monday, reaching $19.95. 247,443 shares of the stock traded hands, compared to its average volume of 624,070. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.32 and a quick ratio of 3.06. The stock has a market capitalization of $1.25 billion, a PE ratio of -3.67 and a beta of 0.88. Cannae has a one year low of $15.93 and a one year high of $22.99. The company’s 50 day moving average is $18.44 and its 200 day moving average is $20.04.

Cannae (NYSE:CNNE) last posted its earnings results on Thursday, May 9th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.94). Cannae had a negative net margin of 74.62% and a negative return on equity of 16.50%. The firm had revenue of $110.70 million for the quarter, compared to the consensus estimate of $126.23 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was down 28.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cannae will post -1.8 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently declared a — dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, June 14th. Cannae’s payout ratio is presently -8.82%.

Insiders Place Their Bets

In other news, Director Richard N. Massey sold 25,752 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $19.38, for a total transaction of $499,073.76. Following the completion of the transaction, the director now directly owns 248,615 shares in the company, valued at approximately $4,818,158.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Cannae

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Cannae by 1,616.0% during the 2nd quarter. CWM LLC now owns 1,390 shares of the company’s stock valued at $25,000 after buying an additional 1,309 shares during the period. Simplex Trading LLC purchased a new stake in Cannae in the fourth quarter worth $27,000. Principal Securities Inc. purchased a new stake in Cannae in the fourth quarter worth $36,000. EntryPoint Capital LLC increased its stake in Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after purchasing an additional 535 shares during the period. Finally, Innealta Capital LLC purchased a new stake in Cannae in the second quarter worth $48,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Cannae

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.