Cannae Holdings, Inc. (NYSE:CNNE) CEO Sells $588,900.00 in Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $19.63, for a total transaction of $588,900.00. Following the completion of the transaction, the chief executive officer now directly owns 274,367 shares of the company’s stock, valued at approximately $5,385,824.21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cannae Stock Performance

Shares of CNNE stock opened at $19.55 on Friday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -4.63 and a beta of 0.89. The company’s 50 day moving average is $21.42 and its 200 day moving average is $19.76. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. Cannae Holdings, Inc. has a 52-week low of $15.93 and a 52-week high of $22.99.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.17). The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $133.50 million. Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. On average, sell-side analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer raised their price objective 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.

Hedge Funds Weigh In On Cannae

A number of large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. purchased a new stake in shares of Cannae during the first quarter valued at $79,000. Triad Investment Management grew its holdings in shares of Cannae by 12.3% during the first quarter. Triad Investment Management now owns 200,870 shares of the company’s stock valued at $4,467,000 after buying an additional 21,981 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Cannae by 8.5% during the first quarter. Park Avenue Securities LLC now owns 10,916 shares of the company’s stock valued at $243,000 after buying an additional 853 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Cannae during the first quarter valued at $3,012,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Cannae by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,973 shares of the company’s stock valued at $819,000 after buying an additional 3,013 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

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.