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

Cannae Holdings, Inc. (NYSE:CNNE) was the recipient of a large 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. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 404,900 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rubric Capital Management LP acquired a new position in Cannae during the fourth quarter worth about $7,081,000. Jane Street Group LLC grew its position in shares of 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 last quarter. Poehling Capital Management INC. grew its position in shares of Cannae by 59.4% in the 1st quarter. Poehling Capital Management INC. now owns 709,019 shares of the company’s stock valued at $15,769,000 after buying an additional 264,213 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Cannae by 17.8% during the 1st 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 during the period. Finally, Caxton Associates LP acquired a new stake in Cannae during the 1st quarter worth $751,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Performance

CNNE traded down $0.05 during mid-day trading on Monday, reaching $19.48. 203,552 shares of the company traded hands, compared to its average volume of 563,064. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.22 billion, a P/E ratio of -3.56 and a beta of 0.88. Cannae has a 52-week low of $15.93 and a 52-week high of $22.99. The company’s fifty day moving average price is $19.35 and its 200-day moving average price is $19.74.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($2.49) EPS for the quarter, missing the consensus estimate of ($0.17) by ($2.32). The company had revenue of $118.00 million for the quarter, compared to the consensus estimate of $112.00 million. Cannae had a negative net margin of 93.69% and a negative return on equity of 14.30%. The firm’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same period last year, the company earned ($1.16) EPS. On average, sell-side analysts expect that Cannae will post -3.03 EPS for the current year.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. Cannae’s payout ratio is currently -8.82%.

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.