Cadre (NYSE:CDRE) Stock Price Down 4.6% – What’s Next?

Cadre Holdings, Inc. (NYSE:CDRE) traded down 4.6% during mid-day trading on Thursday . The stock traded as low as $31.76 and last traded at $31.5750. 85,035 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 313,879 shares. The stock had previously closed at $33.09.

Analyst Ratings Changes

Several research analysts have recently weighed in on CDRE shares. Zacks Research cut shares of Cadre from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Roth Mkm boosted their price objective on shares of Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Lake Street Capital reissued a “buy” rating and set a $53.00 price objective on shares of Cadre in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Cadre from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadre has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Cadre Trading Down 5.5%

The firm has a market capitalization of $1.34 billion, a PE ratio of 29.25, a PEG ratio of 1.22 and a beta of 1.48. The company has a quick ratio of 2.54, a current ratio of 3.50 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $37.36 and its 200 day simple moving average is $40.16.

Cadre (NYSE:CDRE) last announced its earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). Cadre had a net margin of 7.23% and a return on equity of 13.50%. The business had revenue of $167.22 million for the quarter, compared to analysts’ expectations of $182.94 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. On average, sell-side analysts predict that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.10 per share. This is an increase from Cadre’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, January 30th. Cadre’s dividend payout ratio is currently 37.38%.

Insider Buying and Selling

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $31.93, for a total transaction of $3,193,000.00. Following the completion of the sale, the chief executive officer directly owned 9,917,039 shares of the company’s stock, valued at approximately $316,651,055.27. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.50% of the company’s stock.

Institutional Trading of Cadre

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Greenhouse Funds LLLP increased its stake in shares of Cadre by 1.7% in the third quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock worth $101,841,000 after purchasing an additional 46,145 shares in the last quarter. Reinhart Partners LLC. increased its stake in shares of Cadre by 12.9% in the fourth quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company’s stock worth $88,638,000 after purchasing an additional 247,458 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cadre by 15.2% in the third quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock worth $61,981,000 after purchasing an additional 224,218 shares in the last quarter. State Street Corp increased its stake in shares of Cadre by 6.7% in the fourth quarter. State Street Corp now owns 1,217,689 shares of the company’s stock worth $49,730,000 after purchasing an additional 76,685 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Cadre by 30.6% in the third quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after purchasing an additional 217,864 shares in the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

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.