Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Decreases By 35.8%

Cannae Holdings, Inc. (NYSE:CNNE) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 860,900 shares, a decrease of 35.8% from the October 15th total of 1,340,000 shares. Based on an average daily volume of 357,100 shares, the short-interest ratio is currently 2.4 days. Approximately 1.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their target price on Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday.

Cannae Trading Down 0.7 %

Cannae stock traded down $0.14 during trading hours on Friday, reaching $20.29. 318,213 shares of the company’s stock traded hands, compared to its average volume of 536,167. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -4.22 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 2.55. Cannae has a fifty-two week low of $16.94 and a fifty-two week high of $22.99. The firm’s 50 day moving average is $19.38 and its 200-day moving average is $19.18.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $113.90 million for the quarter, compared to analyst estimates of $105.67 million. During the same period in the prior year, the business posted ($2.18) earnings per share. Cannae’s revenue was down 20.7% compared to the same quarter last year. On average, analysts predict that Cannae will post -3.03 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.12 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 2.37%. Cannae’s dividend payout ratio is currently -9.98%.

Institutional Investors Weigh In On Cannae

Institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Cannae by 1,616.0% during the second quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after purchasing an additional 1,309 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Cannae by 48.9% in the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after acquiring an additional 535 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Cannae during the 2nd quarter valued at about $48,000. Oakview Capital Management L.P. acquired a new position in shares of Cannae in the 3rd quarter valued at approximately $67,000. Finally, nVerses Capital LLC bought a new stake in Cannae during the 2nd quarter worth approximately $71,000. 88.12% of the stock is owned by institutional investors and hedge funds.

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.