Insider Buying: Cannae Holdings Inc (CNNE) Director Acquires $729,300.00 in Stock

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Cannae Holdings Inc (NYSE:CNNE) Director Richard N. Massey purchased 39,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were acquired at an average cost of $18.70 per share, with a total value of $729,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE CNNE opened at $19.37 on Friday. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 12.58 and a beta of 0.57. The company has a quick ratio of 1.52, a current ratio of 1.84 and a debt-to-equity ratio of 0.01. Cannae Holdings Inc has a 1 year low of $16.16 and a 1 year high of $21.34.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Monday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.18). Cannae had a return on equity of 3.00% and a net margin of 7.36%. The business had revenue of $303.90 million for the quarter, compared to analysts’ expectations of $308.00 million. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. equities research analysts expect that Cannae Holdings Inc will post -0.19 EPS for the current fiscal year.

A number of brokerages have issued reports on CNNE. Zacks Investment Research raised Cannae from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, May 10th. ValuEngine downgraded Cannae from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Cannae by 2.7% in the 2nd quarter. BlackRock Inc. now owns 4,952,587 shares of the company’s stock valued at $91,871,000 after purchasing an additional 129,176 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cannae by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,313,702 shares of the company’s stock valued at $42,919,000 after purchasing an additional 275,125 shares during the last quarter. FMR LLC increased its position in Cannae by 74.6% in the 2nd quarter. FMR LLC now owns 1,538,233 shares of the company’s stock valued at $28,533,000 after acquiring an additional 657,480 shares during the period. Ancora Advisors LLC acquired a new position in Cannae in the 1st quarter valued at about $15,331,000. Finally, Northern Trust Corp increased its position in Cannae by 1.8% in the 1st quarter. Northern Trust Corp now owns 705,627 shares of the company’s stock valued at $13,308,000 after acquiring an additional 12,491 shares during the period. 78.60% of the stock is owned by institutional investors and hedge funds.

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 is based in Las Vegas, Nevada.

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