Cannae (NYSE:CNNE – Get Rating) posted its earnings results on Monday. The company reported ($2.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($2.87), MarketWatch Earnings reports. Cannae had a negative net margin of 40.87% and a negative return on equity of 8.92%. During the same period in the previous year, the business posted ($2.55) earnings per share.
Shares of Cannae stock traded up $0.68 on Friday, reaching $19.21. The company’s stock had a trading volume of 753,126 shares, compared to its average volume of 569,062. The company has a market capitalization of $1.63 billion, a P/E ratio of -5.43 and a beta of 0.80. Cannae has a 52-week low of $17.51 and a 52-week high of $37.32. The stock has a 50-day moving average price of $23.32 and a 200-day moving average price of $28.82.
In related news, major shareholder Cannae Holdings, Inc. sold 563,264 shares of the stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $13.99, for a total value of $7,880,063.36. Following the completion of the transaction, the insider now directly owns 26,618,506 shares of the company’s stock, valued at approximately $372,392,898.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry B. Moullet acquired 2,000 shares of Cannae stock in a transaction that occurred on Monday, April 11th. The stock was purchased at an average cost of $23.50 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now owns 11,915 shares in the company, valued at approximately $280,002.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 41,000 shares of company stock valued at $1,016,230 and sold 1,198,830 shares valued at $16,257,595. 5.60% of the stock is owned by insiders.
A number of brokerages have recently weighed in on CNNE. Zacks Investment Research lowered Cannae from a “hold” rating to a “strong sell” rating in a research note on Thursday. Oppenheimer dropped their price target on Cannae from $41.00 to $36.00 in a research note on Tuesday.
Cannae Company Profile (Get Rating)
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 is based in Las Vegas, Nevada.
- Get a free copy of the StockNews.com research report on Cannae (CNNE)
- MarketBeat: Week in Review 5/9 – 5/13
- Is Electronic Arts (NASDAQ: EA) Suddenly A Safe Haven?
- Beyond Meat Stock Value is Improving
- The Travel Sector Is Getting Upgraded
- Carvana Insiders Buy Shares But Maybe You Shouldn’t
Receive News & Ratings for Cannae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cannae and related companies with MarketBeat.com's FREE daily email newsletter.