Cannae Holdings, Inc. (NYSE:CNNE) Sees Significant Drop in Short Interest

Cannae Holdings, Inc. (NYSE:CNNE) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,470,000 shares, a drop of 8.1% from the September 15th total of 1,600,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 361,800 shares, the short-interest ratio is presently 4.1 days.

Cannae Stock Performance

Shares of CNNE stock traded up $0.49 during trading hours on Wednesday, hitting $18.94. 882,279 shares of the company were exchanged, compared to its average volume of 553,546. The firm has a fifty day simple moving average of $19.14 and a 200 day simple moving average of $19.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.04. Cannae has a 52-week low of $15.93 and a 52-week high of $22.99. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -3.39 and a beta of 0.88.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($2.32). Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The company had revenue of $118.00 million for the quarter, compared to analysts’ expectations of $112.00 million. During the same quarter in the previous year, the business earned ($1.16) EPS. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. Research analysts predict that Cannae will post -3.03 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, September 16th. Cannae’s dividend payout ratio (DPR) is presently -8.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its holdings in Cannae by 3.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,071 shares of the company’s stock valued at $313,000 after purchasing an additional 498 shares during the period. ProShare Advisors LLC boosted its holdings in Cannae by 4.6% in the 1st quarter. ProShare Advisors LLC now owns 11,894 shares of the company’s stock valued at $265,000 after purchasing an additional 523 shares during the period. EntryPoint Capital LLC boosted its holdings in Cannae by 48.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock valued at $36,000 after purchasing an additional 535 shares during the period. Sei Investments Co. boosted its holdings in Cannae by 1.7% in the 1st quarter. Sei Investments Co. now owns 44,237 shares of the company’s stock valued at $984,000 after purchasing an additional 756 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Cannae by 8.5% in the 1st quarter. Park Avenue Securities LLC now owns 10,916 shares of the company’s stock valued at $243,000 after purchasing an additional 853 shares during the period. 88.12% of the stock is owned by institutional investors.

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.