Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total value of $1,041,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,367 shares of the company's stock, valued at approximately $7,377,920.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Cannae Stock Down 0.8 %
Shares of CNNE stock opened at $20.69 on Friday. 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 Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $22.99. The company has a 50 day simple moving average of $21.50 and a two-hundred day simple moving average of $19.72.
Cannae (NYSE:CNNE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.17). Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. The company had revenue of $119.30 million during the quarter, compared to analysts' expectations of $133.50 million. On average, analysts expect that Cannae Holdings, Inc. will post -0.93 EPS for the current fiscal year.
Institutional Trading of Cannae
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Newtyn Management LLC lifted its position in shares of Cannae by 42.7% during the 3rd quarter. Newtyn Management LLC now owns 2,868,411 shares of the company's stock valued at $53,467,000 after buying an additional 857,748 shares in the last quarter. Norges Bank bought a new position in shares of Cannae in the fourth quarter worth approximately $17,062,000. Rubric Capital Management LP purchased a new stake in shares of Cannae in the fourth quarter worth $7,081,000. Comerica Bank increased its stake in shares of Cannae by 38,345.3% in the third quarter. Comerica Bank now owns 276,806 shares of the company's stock worth $5,160,000 after purchasing an additional 276,086 shares in the last quarter. Finally, Man Group plc raised its position in shares of Cannae by 93.9% during the 4th quarter. Man Group plc now owns 531,962 shares of the company's stock valued at $10,985,000 after purchasing an additional 257,553 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Oppenheimer raised their target price on Cannae from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th.
Read Our Latest Research Report on Cannae
Cannae Company Profile
(
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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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