Cadre (NYSE:CDRE) Shares Down 3.9% – Here’s What Happened

Cadre Holdings, Inc. (NYSE:CDRE)’s share price was down 3.9% during mid-day trading on Tuesday . The company traded as low as $31.92 and last traded at $31.7840. Approximately 106,535 shares traded hands during trading, a decline of 71% from the average session volume of 366,135 shares. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

Several research analysts have commented on CDRE shares. UBS Group set a $43.00 target price on shares of Cadre in a research report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadre in a research report on Monday, August 17th. Zacks Research raised Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. Jefferies Financial Group restated a “buy” rating and issued a $43.00 target price on shares of Cadre in a research report on Sunday, August 9th. Finally, Wall Street Zen raised Cadre from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Cadre has an average rating of “Moderate Buy” and an average target price of $45.00.

Cadre Stock Up 0.7%

The stock’s 50-day moving average is $30.68 and its 200-day moving average is $32.75. The stock has a market cap of $1.35 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02.

Cadre (NYSE:CDRE) last released its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. As a group, research analysts anticipate that Cadre Holdings, Inc. will post 1.33 earnings per share for the current fiscal year.

Cadre Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, July 31st. Cadre’s dividend payout ratio (DPR) is currently 47.06%.

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, August 24th. The stock was sold at an average price of $33.36, for a total value of $3,336,000.00. Following the completion of the sale, the chief executive officer directly owned 9,517,039 shares in the company, valued at $317,488,421.04. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 275,000 shares of company stock worth $8,427,500 over the last quarter. 30.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cadre

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cadre in the 2nd quarter valued at about $83,730,000. California State Teachers Retirement System boosted its holdings in shares of Cadre by 3,490.6% in the second quarter. California State Teachers Retirement System now owns 1,026,702 shares of the company’s stock worth $29,271,000 after buying an additional 998,108 shares during the period. Bank of America Corp DE purchased a new position in Cadre during the 2nd quarter worth approximately $18,984,000. Jane Street Group LLC purchased a new stake in shares of Cadre in the fourth quarter valued at $22,875,000. Finally, Reinhart Partners LLC. grew its holdings in shares of Cadre by 22.4% during the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock valued at $78,071,000 after buying an additional 500,476 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

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.