Insider Selling: Cannae Holdings, Inc. (NYSE:CNNE) CEO Sells 30,000 Shares of Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cannae Price Performance

Cannae stock traded down $0.23 during mid-day trading on Wednesday, reaching $19.43. 656,013 shares of the company were exchanged, compared to its average volume of 774,418. Cannae Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $22.99. The company has a fifty day simple moving average of $21.46 and a 200-day simple moving average of $19.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $1.41 billion, a PE ratio of -4.60 and a beta of 0.89.

Cannae (NYSE:CNNE) last posted 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 business had revenue of $119.30 million for the quarter, compared to analyst estimates of $133.50 million. As a group, equities research analysts expect that Cannae Holdings, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cannae

A number of hedge funds and other institutional investors have recently bought and sold shares of CNNE. Newtyn Management LLC boosted 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 purchasing an additional 857,748 shares in the last quarter. Norges Bank bought a new stake in shares of Cannae during the 4th quarter valued at about $17,062,000. Rubric Capital Management LP bought a new stake in shares of Cannae during the 4th quarter valued at about $7,081,000. Comerica Bank boosted its position in shares of Cannae by 38,345.3% during the 3rd quarter. Comerica Bank now owns 276,806 shares of the company’s stock valued at $5,160,000 after purchasing an additional 276,086 shares in the last quarter. Finally, Man Group plc boosted 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 in the last quarter. Institutional investors own 88.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Cannae

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.