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

Shares of Cadre Holdings, Inc. (NYSE:CDRE) traded down 4.6% during mid-day trading on Thursday . The company 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Cadre from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Lake Street Capital restated a “buy” rating and issued a $53.00 price objective on shares of Cadre in a research report on Wednesday, February 4th. Zacks Research cut shares of Cadre from a “strong-buy” rating to a “hold” rating in a research 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 research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Cadre Price Performance

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 firm’s 50-day moving average is $37.36 and its 200-day moving average is $40.16. The company has a market cap of $1.34 billion, a PE ratio of 29.25, a PEG ratio of 1.22 and a beta of 1.48.

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

Cadre Increases Dividend

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

Insider Buying and Selling

In related news, CEO Warren B. Kanders sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 9,917,039 shares of the company’s stock, valued at $316,651,055.27. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 31.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Cadre

Hedge funds have recently bought and sold shares of the business. Reinhart Partners LLC. bought a new position in shares of Cadre in the third quarter worth approximately $70,205,000. Jane Street Group LLC bought a new position in shares of Cadre in the fourth quarter worth approximately $22,875,000. Vanguard Group Inc. lifted 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 buying an additional 224,218 shares in the last quarter. Capital Research Global Investors lifted 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 buying an additional 217,864 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of Cadre by 46.8% in the fourth quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock worth $25,473,000 after buying an additional 198,750 shares in the last quarter. Institutional investors 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.