Cannae Holdings, Inc. (NYSE:CNNE) CEO Sells $1,041,000.00 in Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total value of $1,041,000.00. Following the completion of the transaction, the chief executive officer now owns 354,367 shares of the company’s stock, valued at approximately $7,377,920.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cannae Stock Down 0.8 %

Shares of NYSE CNNE traded down $0.17 on Thursday, reaching $20.69. 908,421 shares of the company’s stock traded hands, compared to its average volume of 783,086. The business’s 50 day simple moving average is $21.50 and its two-hundred day simple moving average is $19.72. Cannae Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $22.99. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -4.90 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.04.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Cannae

Several large investors have recently modified their holdings of the stock. Simplex Trading LLC purchased a new position in shares of Cannae in the fourth quarter worth $27,000. Principal Securities Inc. bought a new stake in Cannae in the 4th quarter worth about $36,000. Tower Research Capital LLC TRC raised its position in Cannae by 70.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the company’s stock worth $53,000 after buying an additional 1,177 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Cannae in the 2nd quarter worth about $55,000. Finally, Point72 Hong Kong Ltd lifted its stake in Cannae by 66.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock valued at $63,000 after acquiring an additional 1,050 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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.