Cannae Holdings Inc (NYSE:CNNE) Short Interest Update

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Cannae Holdings Inc (NYSE:CNNE) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 719,200 shares, a decrease of 21.5% from the September 30th total of 916,100 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 208,000 shares, the days-to-cover ratio is presently 3.5 days.

Several research firms have weighed in on CNNE. TheStreet cut Cannae from a “b-” rating to a “c+” rating in a report on Tuesday, September 17th. ValuEngine cut Cannae from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday.

In other Cannae news, CFO Richard L. Cox acquired 3,699 shares of the company’s stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $27.05 per share, for a total transaction of $100,057.95. Also, Director Richard N. Massey acquired 20,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $28.49 per share, with a total value of $569,800.00. Following the acquisition, the director now owns 203,899 shares in the company, valued at approximately $5,809,082.51. The disclosure for this purchase can be found here. Insiders have purchased a total of 33,699 shares of company stock valued at $945,158 over the last 90 days. 7.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. River Road Asset Management LLC raised its position in shares of Cannae by 8.7% in the 3rd quarter. River Road Asset Management LLC now owns 3,142,528 shares of the company’s stock worth $86,325,000 after acquiring an additional 251,739 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Cannae by 692.7% in the 3rd quarter. Alps Advisors Inc. now owns 172,800 shares of the company’s stock worth $4,747,000 after acquiring an additional 151,000 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Cannae by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 182,136 shares of the company’s stock worth $5,003,000 after acquiring an additional 14,206 shares in the last quarter. Usca Ria LLC bought a new position in shares of Cannae in the 3rd quarter worth approximately $96,000. Finally, BB&T Securities LLC raised its position in shares of Cannae by 4.3% in the 3rd quarter. BB&T Securities LLC now owns 11,993 shares of the company’s stock worth $328,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

NYSE CNNE traded up $0.40 on Thursday, hitting $35.51. The company’s stock had a trading volume of 429,963 shares, compared to its average volume of 226,558. Cannae has a 52-week low of $15.87 and a 52-week high of $36.00. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $28.67 and its 200 day simple moving average is $28.02. The firm has a market cap of $2.12 billion, a P/E ratio of 51.46 and a beta of 0.88.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.18. Cannae had a return on equity of 7.73% and a net margin of 6.21%. The business had revenue of $270.40 million during the quarter, compared to analysts’ expectations of $279.65 million. During the same quarter last year, the business posted $0.02 EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, research analysts forecast that Cannae will post -0.71 EPS for the current fiscal year.

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 is based in Las Vegas, Nevada.

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