During August, the number of short positions held in Cannae Holdings, Inc. (NYSE: CNNE) saw a considerable reduction. Compared to the previous figure of 2,110,000 shares borrowed as of July 31, the number of shares borrowed as of August 15 was 1,790,000, a decrease of 15.2% from the previous figure. This amount, obtained from the fact that there are 570,000 shares traded on average each day, contributes to the current short-interest ratio, which is 3.1 days. Short positions comprise around 2.4% of the total number of shares actively traded in the company. CNNE stock was first available for trade on Tuesday for $21.62 per share. The company’s moving average for the past fifty days is $21.20, and the moving average over the past two hundred days is $22.25, respectively. Cannae can be acquired at various points throughout the year for anywhere from $17.11 to $36.50. The firm is estimated to have a market value of $1.73 billion, with a price-to-earnings ratio of 2.51 and a beta coefficient of 0.80.
The company’s beta coefficient is 0.80. The debt-to-equity ratio, the current ratio, and the quick ratio all equal 0.69, which means that all of the financial ratios are in line with one another. In the most recent few months, many brokerage firms have shown interest in acquiring CNNE. Following the dissemination of a research study on Cannae on Tuesday, August 9, TheStreet assigned the company the grade of “d.” A grade of “c-” had been given to Cannae in an earlier report version. Oppenheimer stated in a research note issued on May 10 that they would be decreasing their price estimate for Cannae stock from $41.00 to $36.00. Stephens gave Cannae an “overweight” rating in a research study released on August 9, and the report was published on Tuesday. Additionally, the brokerage firm increased its price target on the company’s stock from $41.00 to $42.00, moving it up from its previous price target of $41.00. Cannae Holdings, Inc. had 7,871,685 of its shares of stock sold on July 5, and one of the company’s directors was responsible for the transaction. Tuesday was the day that the transaction took place. The average price prospective purchasers were willing to pay for the shares was 13.81, and the transaction finally resulted in a quantity of money equal to $108,707,969.85 being collected.
Because of the transaction, the director now owns 80,406,356 shares of the company, which collectively have a value of around $1,110,411,776. 36). You can find more information regarding the transaction in the lawsuit file submitted by the Securities and Exchange Commission, which can be viewed at this URL. The file contains the details regarding the transaction. 6.10 percent of the company is owned by employees, directors, and other company insiders. Significant investors have recently been active in the market, buying and selling the company’s stock. Cannae was the recipient of a financial contribution of $26,000 from Nisa Investment Advisors LLC during the first three months of 2018. Cannae was the recipient of an investment of $37,000 from Life Planning Partners, Inc. during the final three months of 2018. During the first three months of 2018, Allworth Financial LP increased its holdings in Cannae by 77.8 percent. Allworth Financial LP currently has 1,849 shares of the company’s stock, equivalent to a value of $44,000 after the latest quarter’s purchase of an additional 809 shares of the company’s stock. Cannae was the beneficiary of a 66.4% increase in the holdings that Point72 Hong Kong Limited made during the first three months of 2018. Following the completion of purchases made during the preceding quarter, Point72 Hong Kong Ltd now has 2,632 shares, bringing its total value to $63,000.
This brings the company’s total number of shares held to 2,050. And last, throughout the first three months of this year, Dixon Hughes Goodman Wealth Advisors LLC increased the amount of Cannae stock it already owned by $91,000 through the purchase of more shares. Institutional investors and hedge funds own 86.51% of the company’s shares. Cannae: An Overview of the Organization Cannae Holdings, Inc. is a major corporation that specializes in investments. The hospitality industry, which includes restaurants, healthcare services, financial services, and other industries, accounts for most of the corporation’s holdings. These holdings include investments in the company. Having minority and majority stakes in one’s portfolio is crucial. Cannae Holdings, Inc. calls the city of Las Vegas, located in the state of Nevada in the United States, its headquarters.