On September 26, 2023, Richard Massey, CEO of Cannae Holdings Inc (CNNE, Financial), made a significant insider purchase of 50,000 shares of the company's stock. This move is noteworthy and warrants a closer look by investors and market watchers alike.
Richard Massey is a seasoned executive with a wealth of experience in the financial sector. As the CEO of Cannae Holdings Inc, he is responsible for the strategic direction and overall performance of the company. His decision to increase his stake in the company is a strong vote of confidence in its future prospects.
Cannae Holdings Inc is a diversified holding company with investments in a variety of industries including restaurants, technology-enabled healthcare services, financial services, and more. The company's strategy is to actively manage and operate its businesses to generate superior returns, often through its controlling ownership interests.
Over the past year, Richard Massey has purchased a total of 100,000 shares and has not sold any shares. This recent purchase of 50,000 shares further strengthens his position in the company.
The insider transaction history for Cannae Holdings Inc shows a positive trend. Over the past year, there have been 2 insider buys in total and no insider sells. This suggests that the insiders have a bullish outlook on the company's future.
On the day of the insider's recent buy, shares of Cannae Holdings Inc were trading for $18.66 apiece, giving the stock a market cap of $1.404 billion. This purchase by the insider at this price point indicates a belief in the company's value and potential for growth.
According to the GuruFocus Value, Cannae Holdings Inc is currently modestly undervalued. With a price of $18.66 and a GuruFocus Value of $26.45, the stock has a price-to-GF-Value ratio of 0.71. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance.
In conclusion, the insider's recent purchase of 50,000 shares of Cannae Holdings Inc is a positive signal for investors. The company's strong insider buying trend, coupled with its modest undervaluation according to the GuruFocus Value, suggests that the stock could be a good investment opportunity.
