Richard N. Massey Sells 30,000 Shares of Cannae Holdings, Inc. (NYSE:CNNE) Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total value of $588,900.00. Following the transaction, the chief executive officer now owns 274,367 shares in the company, valued at approximately $5,385,824.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cannae Stock Performance

Shares of CNNE opened at $19.55 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. The business’s 50 day moving average price is $21.42 and its 200-day moving average price is $19.76. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99. The stock has a market cap of $1.25 billion, a P/E ratio of -4.63 and a beta of 0.89.

Cannae (NYSE:CNNE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $133.50 million. Equities research analysts anticipate that Cannae Holdings, Inc. will post -0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cannae

A number of hedge funds have recently made changes to their positions in CNNE. Simplex Trading LLC bought a new stake in shares of Cannae in the 4th quarter worth approximately $27,000. Principal Securities Inc. bought a new position in Cannae in the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC lifted its position in Cannae by 70.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the company’s stock valued at $53,000 after acquiring an additional 1,177 shares in the last quarter. Lazard Asset Management LLC bought a new position in Cannae in the 2nd quarter valued at approximately $55,000. Finally, Point72 Hong Kong Ltd lifted its position in Cannae by 66.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock valued at $63,000 after acquiring an additional 1,050 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

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.