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

Cannae Holdings, Inc. (NYSE:CNNE) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,170,000 shares, a decline of 15.2% from the July 15th total of 1,380,000 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 472,600 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling

In other news, Director Richard N. Massey sold 25,752 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $19.38, for a total transaction of $499,073.76. Following the completion of the sale, the director now owns 248,615 shares in the company, valued at approximately $4,818,158.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CNNE. Driehaus Capital Management LLC bought a new stake in shares of Cannae during the 2nd quarter worth $18,611,000. Caxton Associates LP lifted its stake in Cannae by 259.7% during the second quarter. Caxton Associates LP now owns 121,436 shares of the company’s stock worth $2,203,000 after purchasing an additional 87,673 shares during the last quarter. AREX Capital Management LP boosted its holdings in shares of Cannae by 52.2% in the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after purchasing an additional 432,260 shares in the last quarter. Continental Advisors LLC increased its position in shares of Cannae by 59.8% during the 2nd quarter. Continental Advisors LLC now owns 238,594 shares of the company’s stock valued at $4,328,000 after purchasing an additional 89,284 shares during the last quarter. Finally, Rubric Capital Management LP raised its stake in shares of Cannae by 17.8% during the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock worth $25,945,000 after acquiring an additional 216,031 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

CNNE traded up $0.01 on Friday, hitting $19.12. The company’s stock had a trading volume of 207,621 shares, compared to its average volume of 603,837. The company’s 50 day simple moving average is $18.67 and its 200-day simple moving average is $19.95. 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 has a 12 month low of $15.93 and a 12 month high of $22.99. The firm has a market cap of $1.20 billion, a P/E ratio of -3.51 and a beta of 0.88.

Cannae (NYSE:CNNE) last issued its earnings results on Thursday, August 8th. The company reported ($2.49) EPS for the quarter, missing the consensus estimate of ($0.17) by ($2.32). Cannae had a negative return on equity of 16.50% and a negative net margin of 74.62%. The company had revenue of $118.00 million during the quarter, compared to the consensus estimate of $112.00 million. During the same quarter in the prior year, the business earned ($1.16) EPS. The firm’s revenue for the quarter was down 22.8% compared to the same quarter last year. Analysts forecast that Cannae will post -1.8 EPS for the current year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.51%. Cannae’s dividend payout ratio is currently -8.82%.

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.