Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey Sells 23,050 Shares of Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 23,050 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $20.57, for a total transaction of $474,138.50. Following the transaction, the chief executive officer now directly owns 404,367 shares in the company, valued at approximately $8,317,829.19. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cannae Stock Up 1.4 %

Cannae stock opened at $21.25 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $21.47 and its two-hundred day moving average price is $19.70. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -5.03 and a beta of 0.89. Cannae Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $22.99.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.17). The business had revenue of $119.30 million during the quarter, compared to the consensus estimate of $133.50 million. Cannae had a negative net margin of 53.86% and a negative return on equity of 12.31%. On average, equities research analysts predict that Cannae Holdings, Inc. will post -0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer increased their price target on Cannae from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th.

Institutional Investors Weigh In On Cannae

A number of institutional investors and hedge funds have recently bought and sold shares of CNNE. Newtyn Management LLC lifted its position in shares of Cannae by 42.7% during the 3rd quarter. Newtyn Management LLC now owns 2,868,411 shares of the company’s stock worth $53,467,000 after buying an additional 857,748 shares in the last quarter. Norges Bank bought a new stake in Cannae during the fourth quarter worth $17,062,000. Rubric Capital Management LP purchased a new position in Cannae in the fourth quarter worth $7,081,000. Comerica Bank grew its stake in Cannae by 38,345.3% in the 3rd quarter. Comerica Bank now owns 276,806 shares of the company’s stock valued at $5,160,000 after purchasing an additional 276,086 shares during the period. Finally, Man Group plc increased its position in shares of Cannae by 93.9% during the 4th quarter. Man Group plc now owns 531,962 shares of the company’s stock valued at $10,985,000 after purchasing an additional 257,553 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Company Profile

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.