Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Decreases By 35.8%

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday.

Hedge Funds Weigh In On Cannae

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Cannae by 82.8% during the first quarter. BNP Paribas Financial Markets now owns 32,482 shares of the company’s stock valued at $722,000 after acquiring an additional 14,711 shares during the period. SG Americas Securities LLC increased its holdings in Cannae by 90.3% during the 1st quarter. SG Americas Securities LLC now owns 22,804 shares of the company’s stock valued at $507,000 after purchasing an additional 10,823 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position 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 last quarter. Sei Investments Co. boosted its stake in Cannae by 1.7% in the first quarter. Sei Investments Co. now owns 44,237 shares of the company’s stock worth $984,000 after purchasing an additional 756 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Cannae by 17.8% during the first quarter. Russell Investments Group Ltd. now owns 226,852 shares of the company’s stock worth $5,045,000 after purchasing an additional 34,246 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of CNNE traded down $0.14 on Friday, reaching $20.29. 318,213 shares of the stock traded hands, compared to its average volume of 536,167. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -4.22 and a beta of 0.87. Cannae has a 12 month low of $16.94 and a 12 month high of $22.99. The stock’s 50-day moving average price is $19.38 and its 200-day moving average price is $19.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 1.01.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $105.67 million. During the same quarter in the prior year, the company posted ($2.18) EPS. The business’s revenue was down 20.7% on a year-over-year basis. Equities analysts forecast that Cannae will post -3.03 EPS for the current fiscal year.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, December 17th. Cannae’s payout ratio is -9.98%.

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.