Cadre (NYSE:CDRE) Shares Gap Up After Strong Earnings

Cadre Holdings, Inc. (NYSE:CDREGet Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $31.03, but opened at $34.59. Cadre shares last traded at $36.84, with a volume of 133,457 shares changing hands.

The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. Cadre had a net margin of 5.80% and a return on equity of 12.39%.

Cadre Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, July 31st. Cadre’s dividend payout ratio (DPR) is currently 44.94%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDRE. JPMorgan Chase & Co. started coverage on Cadre in a research note on Monday, July 27th. They issued an “overweight” rating and a $40.00 price objective on the stock. Jefferies Financial Group set a $40.00 price target on shares of Cadre in a research report on Wednesday, May 13th. Roth Capital reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cadre in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Get Our Latest Report on CDRE

Insiders Place Their Bets

In related news, CEO Warren B. Kanders sold 100,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the transaction, the chief executive officer directly owned 9,817,039 shares of the company’s stock, valued at approximately $294,805,681.17. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 175,000 shares of company stock worth $5,091,500 over the last quarter. 30.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Cadre during the 4th quarter valued at about $22,875,000. Reinhart Partners LLC. grew its position in Cadre by 22.4% in the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock worth $78,071,000 after acquiring an additional 500,476 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of Cadre by 46.8% in the 4th quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock valued at $25,473,000 after purchasing an additional 198,750 shares during the last quarter. Agman Capital LLC bought a new stake in Cadre in the fourth quarter worth $7,364,000. Finally, Earnest Partners LLC acquired a new position in Cadre during the fourth quarter worth $5,946,000. 43.95% of the stock is owned by hedge funds and other institutional investors.

Cadre Trading Up 17.6%

The company has a fifty day simple moving average of $29.68 and a two-hundred day simple moving average of $33.67. The company has a market capitalization of $1.56 billion, a P/E ratio of 41.47 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.26 and a quick ratio of 1.33.

About Cadre

(Get Free Report)

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.

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