Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Down 35.8% in October

Cannae Holdings, Inc. (NYSE:CNNE) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 860,900 shares, a decrease of 35.8% from the October 15th total of 1,340,000 shares. Based on an average daily volume of 357,100 shares, the short-interest ratio is currently 2.4 days. Approximately 1.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their price target on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday.

Cannae Stock Down 2.8 %

Cannae stock traded down $0.59 during mid-day trading on Thursday, hitting $20.43. The company had a trading volume of 411,090 shares, compared to its average volume of 537,153. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -4.29 and a beta of 0.87. Cannae has a 1 year low of $16.94 and a 1 year high of $22.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $19.34 and a 200 day moving average of $19.17.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). The business had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. Cannae had a negative return on equity of 7.98% and a negative net margin of 68.61%. The company’s revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.18) earnings per share. On average, sell-side analysts expect that Cannae will post -3.03 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, December 17th. Cannae’s payout ratio is currently -9.98%.

Institutional Investors Weigh In On Cannae

Several large investors have recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new stake in shares of Cannae during the second quarter worth $18,611,000. AREX Capital Management LP lifted its holdings in shares of Cannae by 52.2% during the second 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 during the period. FMR LLC lifted its holdings in Cannae by 17.6% in the third quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after acquiring an additional 397,352 shares during the period. Jane Street Group LLC lifted its holdings in Cannae by 429.2% in the first quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock valued at $8,411,000 after acquiring an additional 306,716 shares during the period. Finally, Poehling Capital Management INC. lifted its holdings in Cannae by 59.4% in the first quarter. Poehling Capital Management INC. now owns 709,019 shares of the company’s stock valued at $15,769,000 after acquiring an additional 264,213 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

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.