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

Cannae Holdings, Inc. (NYSE:CNNE) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 860,900 shares, a decline of 35.8% from the October 15th total of 1,340,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 357,100 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNNE. Barclays PLC raised its position in shares of Cannae by 221.9% during the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock worth $1,818,000 after purchasing an additional 65,749 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Cannae by 9.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company’s stock worth $384,000 after purchasing an additional 1,789 shares in the last quarter. MML Investors Services LLC raised its holdings in Cannae by 10.7% during the 3rd quarter. MML Investors Services LLC now owns 38,871 shares of the company’s stock worth $741,000 after buying an additional 3,771 shares during the period. State Street Corp lifted its stake in Cannae by 1.6% in the third quarter. State Street Corp now owns 1,605,351 shares of the company’s stock valued at $30,598,000 after buying an additional 25,403 shares in the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Cannae in the third quarter valued at approximately $358,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday.

Cannae Trading Down 0.7 %

Cannae stock traded down $0.14 during mid-day trading on Friday, hitting $20.29. The stock had a trading volume of 318,213 shares, compared to its average volume of 536,167. The stock has a 50-day simple moving average of $19.38 and a two-hundred day simple moving average of $19.18. The company has a current ratio of 2.55, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.27 billion, a PE ratio of -4.22 and a beta of 0.87. Cannae has a 12 month low of $16.94 and a 12 month high of $22.99.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $105.67 million. During the same quarter in the previous year, the company earned ($2.18) EPS. Cannae’s revenue was down 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that Cannae will post -3.03 EPS for the current year.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is currently -9.98%.

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.