Insider Selling: Cannae Holdings, Inc. (NYSE:CNNE) CEO Sells $588,900.00 in Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $19.63, for a total transaction of $588,900.00. Following the completion of the transaction, the chief executive officer now directly owns 274,367 shares in the company, valued at $5,385,824.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cannae Trading Up 0.3 %

CNNE opened at $19.61 on Friday. The firm’s fifty day moving average is $21.39 and its two-hundred day moving average is $19.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $1.25 billion, a PE ratio of -4.65 and a beta of 0.89. Cannae Holdings, Inc. has a twelve month low of $15.93 and a twelve month high of $22.99.

Cannae (NYSE:CNNE) last posted its 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 firm had revenue of $119.30 million during the quarter, compared to analyst estimates of $133.50 million. Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. Equities research analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Cannae

A number of hedge funds and other institutional investors have recently made changes to their positions in CNNE. Newtyn Management LLC raised its holdings in shares of Cannae by 42.7% during the third quarter. Newtyn Management LLC now owns 2,868,411 shares of the company’s stock worth $53,467,000 after acquiring an additional 857,748 shares during the period. Norges Bank acquired a new stake in shares of Cannae during the fourth quarter worth $17,062,000. Rubric Capital Management LP acquired a new stake in shares of Cannae during the fourth quarter worth $7,081,000. Comerica Bank raised its holdings in shares of Cannae by 38,345.3% during the third quarter. Comerica Bank now owns 276,806 shares of the company’s stock worth $5,160,000 after acquiring an additional 276,086 shares during the period. Finally, Man Group plc raised its holdings in shares of Cannae by 93.9% during the fourth quarter. Man Group plc now owns 531,962 shares of the company’s stock worth $10,985,000 after acquiring an additional 257,553 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.