Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) CEO Richard N. Massey sold 23,050 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the sale, the chief executive officer now owns 404,367 shares of the company's stock, valued at approximately $8,317,829.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Cannae Trading Up 1.4 %
Shares of CNNE opened at $21.25 on Wednesday. Cannae Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $22.99. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -5.03 and a beta of 0.89. The firm's 50-day moving average price is $21.47 and its 200-day moving average price is $19.70. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.04.
Cannae (NYSE:CNNE - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share (EPS) 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 the consensus estimate of $133.50 million. Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. Sell-side analysts anticipate that Cannae Holdings, Inc. will post -0.93 EPS for the current year.
Hedge Funds Weigh In On Cannae
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in shares of Cannae in the 1st quarter worth approximately $3,012,000. Price T Rowe Associates Inc. MD boosted its stake in Cannae by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,973 shares of the company's stock worth $819,000 after purchasing an additional 3,013 shares in the last quarter. Barclays PLC grew its position in Cannae by 187.7% during the 4th quarter. Barclays PLC now owns 117,694 shares of the company's stock valued at $2,296,000 after purchasing an additional 76,785 shares during the last quarter. Newtyn Management LLC increased its stake in Cannae by 19.6% during the 4th quarter. Newtyn Management LLC now owns 3,430,163 shares of the company's stock valued at $66,922,000 after purchasing an additional 561,752 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new stake in Cannae during the 4th quarter valued at about $224,000. Hedge funds and other institutional investors own 88.12% of the company's stock.
Analyst Ratings Changes
Separately, Oppenheimer upped their target price on Cannae from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, March 6th.
View Our Latest Analysis on CNNE
About Cannae
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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.
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