Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Down 35.8% in October

Cannae Holdings, Inc. (NYSE:CNNE) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 860,900 shares, a decrease of 35.8% from the October 15th total of 1,340,000 shares. Based on an average trading volume of 357,100 shares, the short-interest ratio is presently 2.4 days. Approximately 1.5% of the shares of the stock are sold short.

Cannae Stock Down 0.7 %

NYSE CNNE traded down $0.14 during trading on Friday, reaching $20.29. The company’s stock had a trading volume of 318,213 shares, compared to its average volume of 536,167. The business has a 50-day moving average price of $19.38 and a 200-day moving average price of $19.18. Cannae has a 1-year low of $16.94 and a 1-year high of $22.99. The stock has a market capitalization of $1.27 billion, a PE ratio of -4.22 and a beta of 0.87. The company has a current ratio of 2.55, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.22). The company had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $105.67 million. Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.18) earnings per share. On average, research analysts forecast that Cannae will post -3.03 earnings per share for the current fiscal year.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.37%. Cannae’s payout ratio is presently -9.98%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in Cannae by 429.2% in the 1st quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock valued at $8,411,000 after buying an additional 306,716 shares during the period. Poehling Capital Management INC. increased its stake in Cannae by 59.4% in the first quarter. Poehling Capital Management INC. now owns 709,019 shares of the company’s stock valued at $15,769,000 after acquiring an additional 264,213 shares during the period. Russell Investments Group Ltd. raised its position in Cannae by 17.8% in the first quarter. Russell Investments Group Ltd. now owns 226,852 shares of the company’s stock worth $5,045,000 after purchasing an additional 34,246 shares in the last quarter. Caxton Associates LP bought a new position in Cannae during the first quarter worth about $751,000. Finally, Epoch Investment Partners Inc. lifted its position in shares of Cannae by 39.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 473,405 shares of the company’s stock worth $10,529,000 after buying an additional 134,071 shares during the period. 88.12% of the stock is owned by institutional investors.

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.