Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Update

Key Points

• Cannae Holdings experienced a significant increase in short interest, rising 37.3% to a total of 2,650,000 shares as of August 15th.
• The company declared an increased quarterly dividend of $0.15 per share, effective September 30th, raising the annualized dividend yield to 3.2%.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00, with analysts currently giving the stock a consensus rating of "Buy".

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 2,650,000 shares, agrowthof37.3% from the July 31st total of 1,930,000 shares. Based on an average trading volume of 801,700 shares, the short-interest ratio is currently 3.3 days. Currently,5.3% of the company's stock are sold short. Currently,5.3% of the company's stock are sold short. Based on an average trading volume of 801,700 shares, the short-interest ratio is currently 3.3 days.

Cannae Stock Down 0.3%

Shares of CNNE traded down $0.05 during mid-day trading on Monday, reaching $18.69. The company had a trading volume of 845,973 shares, compared to its average volume of 797,996. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a 50-day moving average price of $20.04 and a 200 day moving average price of $18.93. Cannae has a 52 week low of $15.91 and a 52 week high of $22.36. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.79 and a beta of 1.08.

Cannae Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Cannae's previous quarterly dividend of $0.12. Cannae's payout ratio is presently -7.16%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upped their target price on Cannae from $22.00 to $26.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $24.00.

Insider Buying and Selling at Cannae

In other Cannae news, Director Frank R. Martire sold 106,855 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $18.63, for a total transaction of $1,990,708.65. Following the transaction, the director owned 26,478 shares in the company, valued at approximately $493,285.14. This represents a 80.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.90% of the company's stock.

Institutional Trading of Cannae

A number of hedge funds have recently made changes to their positions in CNNE. Price T Rowe Associates Inc. MD boosted its position in shares of Cannae by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,231 shares of the company's stock worth $919,000 after purchasing an additional 3,643 shares in the last quarter. Northern Trust Corp boosted its stake in Cannae by 1.8% during the 4th quarter. Northern Trust Corp now owns 609,504 shares of the company's stock valued at $12,105,000 after purchasing an additional 10,895 shares during the last quarter. Deutsche Bank AG boosted its stake in Cannae by 27.6% during the 4th quarter. Deutsche Bank AG now owns 55,018 shares of the company's stock valued at $1,093,000 after purchasing an additional 11,917 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Cannae during the 4th quarter valued at $10,174,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cannae by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company's stock valued at $637,000 after purchasing an additional 1,151 shares during 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.

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