CEO & Director of Cannae Holdings Picks Up 13% More Stock
Those following along with Cannae Holdings, Inc. (NYSE:CNNE) will no doubt be intrigued by the recent purchase of shares by Richard Massey, CEO & Director of the company, who spent a stonking US$933k on stock at an average price of US$18.66. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 13%.
See our latest analysis for Cannae Holdings
Cannae Holdings Insider Transactions Over The Last Year
In fact, the recent purchase by Richard Massey was the biggest purchase of Cannae Holdings shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$19.37. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. Happily, the Cannae Holdings insider decided to buy shares at close to current prices. Richard Massey was the only individual insider to buy during the last year.
Richard Massey bought a total of 100.00k shares over the year at an average price of US$18.34. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Cannae Holdings insiders own about US$107m worth of shares (which is 7.5% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
So What Does This Data Suggest About Cannae Holdings Insiders?
It's certainly positive to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Cannae Holdings. Nice! If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
