Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey Sells 50,000 Shares

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) CEO Richard N. Massey sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total value of $1,041,000.00. Following the sale, the chief executive officer now owns 354,367 shares in the company, valued at approximately $7,377,920.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cannae Stock Performance

Cannae stock traded down $0.17 during midday trading on Thursday, reaching $20.69. 908,421 shares of the company's stock were exchanged, compared to its average volume of 783,086. The stock's 50-day simple moving average is $21.50 and its 200 day simple moving average is $19.72. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -4.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 1.65. Cannae Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $22.99.

Cannae (NYSE:CNNE - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported ($0.83) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $133.50 million. On average, analysts expect that Cannae Holdings, Inc. will post -0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cannae

Several institutional investors and hedge funds have recently modified their holdings of CNNE. Simplex Trading LLC acquired a new position in Cannae in the 4th quarter valued at $27,000. Principal Securities Inc. acquired a new stake in Cannae in the 4th quarter worth about $36,000. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 1,177 shares during the period. Lazard Asset Management LLC bought a new stake in Cannae in the 2nd quarter valued at about $55,000. Finally, Point72 Hong Kong Ltd grew its position in shares of Cannae by 66.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company's stock worth $63,000 after purchasing an additional 1,050 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Oppenheimer boosted their target price on shares of Cannae from $25.00 to $27.00 and gave the stock an "outperform" rating in a report 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.

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