Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Down 15.2% in July

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

Insiders Place Their Bets

In other Cannae news, Director Richard N. Massey sold 25,752 shares of Cannae 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 transaction, the director now directly owns 248,615 shares in the company, valued at approximately $4,818,158.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.90% of the company’s stock.

Institutional Trading of Cannae

A number of institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC acquired a new position in Cannae in the 2nd quarter worth about $18,611,000. Caxton Associates LP increased its holdings in Cannae by 259.7% in the second quarter. Caxton Associates LP now owns 121,436 shares of the company’s stock worth $2,203,000 after buying an additional 87,673 shares during the last quarter. AREX Capital Management LP raised its position in Cannae by 52.2% during the second quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock valued at $22,866,000 after acquiring an additional 432,260 shares in the last quarter. Continental Advisors LLC lifted its stake in Cannae by 59.8% in the second quarter. Continental Advisors LLC now owns 238,594 shares of the company’s stock valued at $4,328,000 after acquiring an additional 89,284 shares during the last quarter. Finally, Rubric Capital Management LP grew its position in Cannae by 17.8% in 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. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Stock Up 0.1 %

NYSE:CNNE traded up $0.01 on Friday, hitting $19.12. 207,621 shares of the company’s stock traded hands, compared to its average volume of 603,837. The company has a market cap of $1.20 billion, a PE ratio of -3.51 and a beta of 0.88. Cannae has a 1 year low of $15.93 and a 1 year high of $22.99. The company has a current ratio of 3.32, a quick ratio of 3.06 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $18.67 and a 200-day moving average price of $19.95.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($2.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). Cannae had a negative net margin of 74.62% and a negative return on equity of 16.50%. The company had revenue of $118.00 million for the quarter, compared to analysts’ expectations of $112.00 million. During the same period in the previous year, the firm posted ($1.16) earnings per share. The business’s revenue for the quarter was down 22.8% on a year-over-year basis. Equities analysts anticipate that Cannae will post -1.8 EPS for the current fiscal year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Monday, September 16th. Cannae’s dividend payout ratio (DPR) is presently -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.