Cadre (NYSE:CDRE) Shares Down 8.8% – What’s Next?

Cadre Holdings, Inc. (NYSE:CDRE)’s stock price fell 8.8% during trading on Friday . The company traded as low as $32.88 and last traded at $31.9550. Approximately 27,072 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 370,279 shares. The stock had previously closed at $35.02.

Wall Street Analysts Forecast Growth

CDRE has been the subject of a number of research analyst reports. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. Jefferies Financial Group set a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. Roth Capital restated a “buy” rating and issued a $40.00 price target on shares of Cadre in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Cadre from $40.00 to $45.00 and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings lowered Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cadre currently has a consensus rating of “Moderate Buy” and an average target price of $40.80.

Cadre Stock Down 4.6%

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.26. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 39.32 and a beta of 1.32. The stock’s fifty day simple moving average is $29.74 and its two-hundred day simple moving average is $33.61.

Cadre (NYSE:CDRE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Cadre had a net margin of 5.26% and a return on equity of 12.16%. The company had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. On average, sell-side analysts anticipate that Cadre Holdings, Inc. will post 1.47 EPS for the current year.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.10 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.40 annualized dividend and a yield of 1.2%. Cadre’s payout ratio is 44.94%.

Insider Activity

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.03, for a total value of $3,003,000.00. Following the transaction, the chief executive officer owned 9,817,039 shares of the company’s stock, valued at approximately $294,805,681.17. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 175,000 shares of company stock valued at $5,091,500 over the last quarter. 30.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cadre

A number of hedge funds have recently modified their holdings of CDRE. Reinhart Partners LLC. raised its position in shares of Cadre by 22.4% during the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock worth $78,071,000 after purchasing an additional 500,476 shares during the period. State Street Corp boosted its position in shares of Cadre by 6.7% in the 4th quarter. State Street Corp now owns 1,217,689 shares of the company’s stock valued at $49,730,000 after purchasing an additional 76,685 shares during the period. GW&K Investment Management LLC boosted its position in shares of Cadre by 6.3% in the 4th quarter. GW&K Investment Management LLC now owns 824,927 shares of the company’s stock valued at $33,690,000 after purchasing an additional 48,638 shares during the period. Dimensional Fund Advisors LP increased its stake in Cadre by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company’s stock worth $23,530,000 after purchasing an additional 60,382 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cadre by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 670,294 shares of the company’s stock worth $27,380,000 after purchasing an additional 3,726 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

Cadre Company Profile

Cadre (NYSE:CDRE) is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm’s platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.