Fred Alger Management LLC Grows Stake in Cadre Holdings, Inc. $CDRE

Fred Alger Management LLC grew its holdings in Cadre Holdings, Inc. (NYSE:CDRE) by 46.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 623,730 shares of the company’s stock after buying an additional 198,750 shares during the quarter. Fred Alger Management LLC owned approximately 1.53% of Cadre worth $25,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rafferty Asset Management LLC lifted its holdings in Cadre by 3.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 7,003 shares of the company’s stock worth $256,000 after buying an additional 259 shares during the period. Huntington National Bank lifted its holdings in Cadre by 33.9% in the 3rd quarter. Huntington National Bank now owns 1,285 shares of the company’s stock worth $47,000 after buying an additional 325 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Cadre by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company’s stock worth $446,000 after buying an additional 438 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cadre by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock worth $458,000 after buying an additional 628 shares during the period. Finally, Mariner LLC lifted its holdings in Cadre by 6.1% in the 3rd quarter. Mariner LLC now owns 11,174 shares of the company’s stock worth $408,000 after buying an additional 643 shares during the period. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Analyst Ratings Changes

CDRE has been the subject of several research analyst reports. Weiss Ratings cut Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Jefferies Financial Group set a $40.00 target price on Cadre in a research note on Wednesday, May 13th. Roth Mkm restated a “buy” rating and issued a $40.00 target price on shares of Cadre in a research note on Wednesday, May 13th. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen cut Cadre from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cadre currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Insider Transactions at Cadre

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of Cadre stock in a transaction on Friday, March 20th. The stock was sold at an average price of $31.40, for a total transaction of $3,140,000.00. Following the completion of the transaction, the chief executive officer owned 10,017,039 shares in the company, valued at approximately $314,535,024.60. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.10% of the company’s stock.

Cadre Trading Down 1.0%

CDRE opened at $28.81 on Wednesday. The stock has a market cap of $1.23 billion, a PE ratio of 32.37 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $30.46 and a 200-day moving average of $36.92. Cadre Holdings, Inc. has a 52 week low of $25.73 and a 52 week high of $48.76.

Cadre Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. Cadre’s payout ratio is presently 44.94%.

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.