Insider Selling: Cannae Holdings, Inc. (NYSE:CNNE) CEO Sells 30,000 Shares of Stock

Cannae Holdings, Inc. (NYSE:CNNE) CEO Richard N. Massey sold 30,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $19.63, for a total transaction of $588,900.00. Following the completion of the sale, the chief executive officer now directly owns 274,367 shares in the company, valued at $5,385,824.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Cannae Stock Down 1.2 %

CNNE traded down $0.23 during trading on Wednesday, hitting $19.43. The stock had a trading volume of 656,013 shares, compared to its average volume of 774,418. The company has a market capitalization of $1.41 billion, a PE ratio of -4.60 and a beta of 0.89. Cannae Holdings, Inc. has a twelve month low of $15.93 and a twelve month high of $22.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a 50 day simple moving average of $21.46 and a two-hundred day simple moving average of $19.77.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $133.50 million. On average, research analysts predict that Cannae Holdings, Inc. will post -0.93 earnings per share for the current year.

Analyst Ratings Changes

Separately, Oppenheimer upped their target price on shares of Cannae from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNNE. Simplex Trading LLC purchased a new position in Cannae during the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new stake in shares of Cannae in the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC increased its position in shares of 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 last quarter. Lazard Asset Management LLC purchased a new stake in shares of Cannae in the 2nd quarter valued at approximately $55,000. Finally, Point72 Hong Kong Ltd grew its position in shares of Cannae by 66.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the company’s stock valued at $63,000 after buying an additional 1,050 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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.