Free Trial

Cannae (NYSE:CNNE) Sees Unusually-High Trading Volume - Here's What Happened

Cannae logo with Finance background

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 1,082,110 shares traded hands during trading, an increase of 125% from the previous session's volume of 479,920 shares.The stock last traded at $19.41 and had previously closed at $19.75.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $22.00 price target on shares of Cannae in a report on Wednesday, May 14th. Oppenheimer dropped their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th.

Get Our Latest Analysis on Cannae

Cannae Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The company has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $18.82. The stock has a market cap of $1.25 billion, a PE ratio of -4.14 and a beta of 1.00.

Cannae (NYSE:CNNE - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The company had revenue of $103.20 million for the quarter, compared to analyst estimates of $105.30 million. During the same period last year, the company earned ($1.27) earnings per share. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.48 dividend on an annualized basis and a yield of 2.41%. Cannae's dividend payout ratio (DPR) is presently -9.13%.

Cannae announced that its Board of Directors has approved a stock buyback program on Tuesday, March 25th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Cannae

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its holdings in Cannae by 95.4% during the first quarter. Jane Street Group LLC now owns 54,393 shares of the company's stock worth $997,000 after purchasing an additional 26,550 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Cannae in the first quarter valued at $838,000. Goldman Sachs Group Inc. raised its stake in shares of Cannae by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 299,843 shares of the company's stock worth $5,496,000 after buying an additional 11,788 shares during the last quarter. Newtyn Management LLC raised its stake in shares of Cannae by 143.4% during the 1st quarter. Newtyn Management LLC now owns 4,600,000 shares of the company's stock worth $84,318,000 after buying an additional 2,710,000 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cannae by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company's stock worth $613,000 after buying an additional 1,405 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

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.

Read More

Should You Invest $1,000 in Cannae Right Now?

Before you consider Cannae, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cannae wasn't on the list.

While Cannae currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2025 Cover

Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines