Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Update

Cannae Holdings, Inc. (NYSE:CNNE) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,120,000 shares, an increase of 15.2% from the May 31st total of 1,840,000 shares. Based on an average trading volume of 631,200 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.8% of the shares of the stock are short sold.

Cannae Stock Performance

Shares of CNNE opened at $18.14 on Monday. The business’s 50 day moving average is $19.01 and its two-hundred day moving average is $20.20. Cannae has a 52-week low of $15.93 and a 52-week high of $22.99. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -3.33 and a beta of 0.92. 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:CNNE) last announced its earnings results on Thursday, May 9th. The company reported ($1.27) earnings per share (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 business had revenue of $110.70 million during the quarter, compared to analyst estimates of $126.23 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was down 28.3% on a year-over-year basis. Analysts forecast that Cannae will post -1.8 EPS for the current fiscal year.

Cannae Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.12 dividend. The ex-dividend date was Friday, June 14th. Cannae’s dividend payout ratio is currently -8.82%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cannae

In other news, Director Richard N. Massey sold 25,752 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $19.38, for a total value of $499,073.76. Following the completion of the transaction, the director now owns 248,615 shares in the company, valued at $4,818,158.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Richard N. Massey sold 25,752 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $19.38, for a total value of $499,073.76. Following the completion of the transaction, the director now owns 248,615 shares in the company, valued at $4,818,158.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard N. Massey sold 50,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total value of $1,041,000.00. Following the completion of the transaction, the chief executive officer now owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,802 shares of company stock valued at $2,603,112. 10.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNNE. Norges Bank acquired a new position in Cannae during the 4th quarter valued at approximately $8,324,000. Rubric Capital Management LP acquired a new position in Cannae during the 4th quarter valued at approximately $7,081,000. Jane Street Group LLC boosted its position in Cannae by 429.2% during the 1st quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock worth $8,411,000 after acquiring an additional 306,716 shares during the period. Comerica Bank boosted its position in Cannae by 38,345.3% during the 3rd quarter. Comerica Bank now owns 276,806 shares of the company’s stock worth $5,160,000 after acquiring an additional 276,086 shares during the period. Finally, Poehling Capital Management INC. boosted its position in Cannae by 59.4% during the 1st quarter. Poehling Capital Management INC. now owns 709,019 shares of the company’s stock worth $15,769,000 after acquiring an additional 264,213 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.