Cannae Holdings, Inc. (NYSE:CNNE) Short Interest Down 15.2% in August

Cannae Holdings, Inc. (NYSE:CNNE) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,400,000 shares, a decline of 15.2% from the August 15th total of 1,650,000 shares. Based on an average daily volume of 404,900 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.5% of the company’s stock are sold short.

Cannae Stock Performance

NYSE CNNE traded down $0.16 on Wednesday, hitting $19.11. 308,333 shares of the stock were exchanged, compared to its average volume of 559,905. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average is $19.41 and its 200 day moving average is $19.70. Cannae has a 52 week low of $15.93 and a 52 week high of $22.99. The company has a market capitalization of $1.20 billion, a PE ratio of -3.51 and a beta of 0.88.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($2.49) EPS for the quarter, missing the consensus estimate of ($0.17) by ($2.32). Cannae had a negative net margin of 93.69% and a negative return on equity of 14.30%. The business had revenue of $118.00 million during the quarter, compared to analyst estimates of $112.00 million. During the same quarter last year, the company posted ($1.16) earnings per share. The company’s revenue was down 22.8% on a year-over-year basis. Research analysts anticipate that Cannae will post -3.03 EPS for the current fiscal year.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 2.51%. Cannae’s dividend payout ratio (DPR) is presently -8.82%.

Hedge Funds Weigh In On Cannae

Several institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in Cannae by 1,616.0% during the second quarter. CWM LLC now owns 1,390 shares of the company’s stock worth $25,000 after purchasing an additional 1,309 shares during the period. EntryPoint Capital LLC lifted its position in Cannae by 48.9% during the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock worth $36,000 after purchasing an additional 535 shares during the period. Principal Securities Inc. bought a new stake in Cannae during the fourth quarter worth about $36,000. Innealta Capital LLC bought a new stake in Cannae during the second quarter worth about $48,000. Finally, Financial Management Professionals Inc. bought a new stake in Cannae during the first quarter worth about $79,000. 88.12% of the stock is currently 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 was founded in 2014 and is based in Las Vegas, Nevada.