Cannae Holdings, Inc. (NYSE:CNNE) Sees Large Decrease in Short Interest

Cannae Holdings, Inc. (NYSE:CNNEGet Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,040,000 shares, a decrease of 6.4% from the February 29th total of 2,180,000 shares. Based on an average daily volume of 643,100 shares, the days-to-cover ratio is currently 3.2 days. Approximately 3.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cannae

Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC purchased a new position in shares of Cannae in the 1st quarter valued at approximately $3,012,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Cannae by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,973 shares of the company’s stock valued at $819,000 after purchasing an additional 3,013 shares during the period. Barclays PLC lifted its stake in shares of Cannae by 187.7% in 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 period. Newtyn Management LLC raised its stake in Cannae by 19.6% during the fourth quarter. Newtyn Management LLC now owns 3,430,163 shares of the company’s stock valued at $66,922,000 after buying an additional 561,752 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new position in Cannae during the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on Cannae

Cannae Stock Down 0.4 %

CNNE opened at $22.43 on Wednesday. Cannae has a 1 year low of $15.93 and a 1 year high of $22.99. 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 stock’s 50 day simple moving average is $21.47 and its 200 day simple moving average is $19.66.

Cannae (NYSE:CNNEGet Free Report) last released its quarterly earnings data 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). Cannae had a negative return on equity of 12.31% and a negative net margin of 53.86%. The business had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $133.50 million. As a group, sell-side analysts anticipate that Cannae will post -0.93 EPS for the current fiscal year.

Cannae Company Profile

(Get Free Report)

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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