Richard N. Massey Purchases 10,000 Shares of Cannae Holdings Inc (CNNE) Stock

Cannae Holdings Inc (NYSE:CNNE) Director Richard N. Massey acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $170,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of NYSE:CNNE opened at $16.75 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.75 and a current ratio of 2.12. Cannae Holdings Inc has a 1-year low of $16.25 and a 1-year high of $21.90.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Cannae had a negative net margin of 1.99% and a negative return on equity of 2.08%. The business had revenue of $293.50 million for the quarter, compared to the consensus estimate of $315.25 million. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that Cannae Holdings Inc will post -0.36 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in Cannae by 386.1% during the second quarter. Millennium Management LLC now owns 373,622 shares of the company’s stock valued at $6,931,000 after purchasing an additional 296,765 shares in the last quarter. Trexquant Investment LP purchased a new position in Cannae during the second quarter valued at approximately $431,000. Rhumbline Advisers lifted its holdings in Cannae by 6.9% during the second quarter. Rhumbline Advisers now owns 69,858 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,491 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new position in Cannae during the second quarter valued at approximately $271,000. Finally, Comerica Bank lifted its holdings in Cannae by 33.6% during the third quarter. Comerica Bank now owns 549,023 shares of the company’s stock valued at $10,245,000 after purchasing an additional 137,997 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently issued reports on CNNE. Zacks Investment Research downgraded shares of Cannae from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. TheStreet raised shares of Cannae from a “d+” rating to a “c-” rating in a report on Thursday, September 6th. Finally, Piper Jaffray Companies raised shares of Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 price objective on the stock in a report on Friday, November 9th.

COPYRIGHT VIOLATION NOTICE: “Richard N. Massey Purchases 10,000 Shares of Cannae Holdings Inc (CNNE) Stock” was posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://transcriptdaily.com/2018/12/08/richard-n-massey-purchases-10000-shares-of-cannae-holdings-inc-cnne-stock.html.

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 is based in Las Vegas, Nevada.

Recommended Story: What are no-load funds?

Receive News & Ratings for Cannae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cannae and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply