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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.