Cadre (NYSE:CDRE) Shares Down 8.8% – Here’s What Happened

Cadre Holdings, Inc. (NYSE:CDRE) fell 8.8% during mid-day 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 daily volume of 370,279 shares. The stock had previously closed at $35.02.

Wall Street Analysts Forecast Growth

CDRE has been the topic of a number of recent research reports. Jefferies Financial Group set a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. Roth Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Cadre in a report on Wednesday, May 13th. Wall Street Zen raised shares of Cadre from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. boosted their price target on Cadre from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Cadre Stock Performance

The company has a market cap of $1.41 billion, a P/E ratio of 38.80 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. The stock’s 50-day moving average price is $29.78 and its 200 day moving average price is $33.60.

Cadre (NYSE:CDRE) last posted 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 12.02%. The business had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million. As a group, research analysts expect that Cadre Holdings, Inc. will post 1.47 EPS for the current fiscal year.

Cadre Dividend Announcement

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

Insider Transactions at Cadre

In other news, CEO Warren B. Kanders sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $27.43, for a total value of $1,371,500.00. Following the sale, the chief executive officer directly owned 9,617,039 shares of the company’s stock, valued at approximately $263,795,379.77. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 175,000 shares of company stock worth $5,091,500 in the last three months. 30.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cadre

Several large investors have recently made changes to their positions in CDRE. BlackRock Inc. acquired a new position in Cadre during the 2nd quarter valued at $83,730,000. Jane Street Group LLC bought a new stake in Cadre in the 4th quarter valued at $22,875,000. Reinhart Partners LLC. grew its position in Cadre by 22.4% in the 2nd 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 last quarter. Fred Alger Management LLC grew its position in Cadre by 46.8% in the 4th quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock worth $25,473,000 after purchasing an additional 198,750 shares during the last quarter. Finally, Agman Capital LLC bought a new position in shares of Cadre during the 4th quarter worth about $7,364,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

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.