Short Interest in Cannae Holdings, Inc. (NYSE:CNNE) Expands By 50.5%

Cannae Holdings, Inc. (NYSE:CNNE) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,200,000 shares, a growth of 50.5% from the August 31st total of 2,790,000 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 727,000 shares, the short-interest ratio is presently 5.8 days. Based on an average daily trading volume, of 727,000 shares, the short-interest ratio is presently 5.8 days. Currently, 8.4% of the shares of the company are short sold.

Insider Transactions at Cannae

In other Cannae news, Director Frank R. Martire sold 26,478 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total value of $487,989.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cannae

Hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC raised its position in shares of Cannae by 6.3% in the first quarter. Park Avenue Securities LLC now owns 13,089 shares of the company’s stock valued at $240,000 after buying an additional 777 shares in the last quarter. Spire Wealth Management raised its position in shares of Cannae by 81.4% in the first quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock valued at $75,000 after buying an additional 1,840 shares in the last quarter. Poehling Capital Management INC. raised its position in shares of Cannae by 6.9% in the first quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after buying an additional 50,025 shares in the last quarter. Jump Financial LLC bought a new position in Cannae in the first quarter valued at approximately $261,000. Finally, Trexquant Investment LP bought a new position in Cannae in the first quarter valued at approximately $795,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Up 0.3%

NYSE CNNE opened at $18.70 on Thursday. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05. Cannae has a 1-year low of $15.91 and a 1-year high of $22.36. The company has a 50 day moving average of $18.89 and a 200-day moving average of $19.05. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -2.79 and a beta of 1.09.

Cannae Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.15 dividend. The ex-dividend date was Tuesday, September 16th. This is a positive change from Cannae’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. Cannae’s dividend payout ratio (DPR) is presently -8.96%.

Analysts Set New Price Targets

Several research firms have issued reports on CNNE. Royal Bank Of Canada upped their price objective on Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Weiss Ratings restated a “sell (d)” rating on shares of Cannae in a research report on Saturday, September 27th. Finally, Zacks Research downgraded shares of Cannae from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.