Richard N. Massey Sells 25,752 Shares of Cannae Holdings, Inc. (NYSE:CNNE) Stock

Cannae Holdings, Inc. (NYSE:CNNEGet Free Report) Director Richard N. Massey sold 25,752 shares of Cannae 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 sale, the director now directly owns 248,615 shares of the company’s stock, valued at approximately $4,818,158.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cannae Stock Down 0.3 %

CNNE stock opened at $18.23 on Friday. The company has a market cap of $1.14 billion, a PE ratio of -3.35 and a beta of 0.91. The business has a 50-day simple moving average of $20.41 and a 200 day simple moving average of $20.24. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99. 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:CNNEGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.94). The business had revenue of $110.70 million for the quarter, compared to analyst estimates of $126.23 million. Cannae had a negative return on equity of 16.50% and a negative net margin of 74.62%. The firm’s revenue was down 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Sell-side analysts anticipate that Cannae Holdings, Inc. will post -1.26 EPS for the current fiscal year.

Cannae Announces Dividend

The firm also recently announced a — dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 14th. Cannae’s payout ratio is -8.82%.

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on Cannae

Institutional Trading of Cannae

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Cannae during the first quarter worth about $454,000. Jane Street Group LLC grew its holdings in shares of Cannae by 429.2% during the first quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock worth $8,411,000 after purchasing an additional 306,716 shares during the last quarter. EJF Capital LLC bought a new stake in shares of Cannae during the first quarter worth about $3,214,000. Murchinson Ltd. bought a new stake in shares of Cannae during the first quarter worth about $469,000. Finally, Ancora Advisors LLC grew its holdings in shares of Cannae by 16.6% during the first quarter. Ancora Advisors LLC now owns 512,233 shares of the company’s stock worth $11,392,000 after purchasing an additional 72,978 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

About Cannae

(Get Free Report)

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.

Further Reading

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