Old West Investment Management LLC Has $2.77 Million Stake in Cadre Holdings, Inc. $CDRE

Old West Investment Management LLC lowered its stake in Cadre Holdings, Inc. (NYSE:CDRE) by 59.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,779 shares of the company’s stock after selling 111,332 shares during the quarter. Old West Investment Management LLC owned approximately 0.19% of Cadre worth $2,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CDRE. Huntington National Bank boosted its position in Cadre by 48.4% during the second quarter. Huntington National Bank now owns 960 shares of the company’s stock valued at $31,000 after acquiring an additional 313 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Cadre by 585.9% during the third quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock valued at $35,000 after purchasing an additional 832 shares during the period. Assetmark Inc. grew its stake in shares of Cadre by 43.1% in the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock valued at $44,000 after buying an additional 420 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Cadre during the third quarter valued at approximately $74,000. Finally, LRI Investments LLC acquired a new position in Cadre during the third quarter worth $104,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Price Performance

CDRE opened at $41.63 on Friday. Cadre Holdings, Inc. has a 12-month low of $27.07 and a 12-month high of $46.64. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 37.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The company has a current ratio of 3.64, a quick ratio of 2.58 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $42.20 and a two-hundred day simple moving average of $38.37.

Cadre (NYSE:CDRE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $155.87 million during the quarter, compared to analysts’ expectations of $158.96 million. Cadre had a net margin of 7.33% and a return on equity of 13.94%. Cadre’s revenue was up 42.5% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Research analysts predict that Cadre Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Cadre Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Cadre’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, January 30th. Cadre’s dividend payout ratio is currently 35.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. B. Riley Financial reiterated a “buy” rating on shares of Cadre in a report on Thursday, November 6th. Lake Street Capital reiterated a “buy” rating and set a $53.00 price target on shares of Cadre in a report on Wednesday. CJS Securities raised shares of Cadre to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research upgraded shares of Cadre from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cadre has an average rating of “Buy” and a consensus target price of $43.00.

Insider Activity

In other news, CEO Warren B. Kanders sold 86,903 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $39.00, for a total transaction of $3,389,217.00. Following the completion of the transaction, the chief executive officer directly owned 10,129,289 shares in the company, valued at approximately $395,042,271. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 31.50% of the company’s stock.

About Cadre

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.