Key Points
- CEO Warren Kanders sold 100,000 shares on March 20 at an average price of $31.40 for about $3.14 million, reducing his stake by 0.99% to 10,017,039 shares, as disclosed in an SEC filing.
- Cadre reported a weak quarter on March 10 with EPS of $0.27 vs. $0.47 expected and revenue of $167.22 million versus $182.94 million forecast, a 4.9% year-over-year revenue decline.
- The company recently raised its quarterly dividend to $0.10 (annualized $0.40, yield ~1.2%) and carries a consensus analyst rating of "Moderate Buy" with an average price target of $43.00.
Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) CEO Warren Kanders sold 100,000 shares of the company's 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 transaction, the chief executive officer directly owned 10,017,039 shares in the company, valued at approximately $314,535,024.60. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Cadre Stock Up 1.3%
Shares of NYSE CDRE opened at $32.30 on Thursday. The company has a quick ratio of 2.54, a current ratio of 3.50 and a debt-to-equity ratio of 0.92. Cadre Holdings, Inc. has a 52 week low of $27.07 and a 52 week high of $48.76. The firm has a 50-day moving average price of $40.44 and a 200 day moving average price of $40.34. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.17 and a beta of 1.34.
Cadre (NYSE:CDRE - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.20). Cadre had a return on equity of 13.50% and a net margin of 7.23%.The company had revenue of $167.22 million for the quarter, compared to analyst estimates of $182.94 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company's quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.
Cadre Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.10 dividend. The ex-dividend date was Friday, January 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Cadre's previous quarterly dividend of $0.10. Cadre's payout ratio is currently 37.38%.
Analysts Set New Price Targets
Several brokerages recently issued reports on CDRE. Lake Street Capital reaffirmed a "buy" rating and set a $53.00 price objective on shares of Cadre in a report on Wednesday, February 4th. Wall Street Zen cut Cadre from a "strong-buy" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Cadre in a research note on Monday, December 29th. CJS Securities upgraded shares of Cadre to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, Zacks Research cut shares of Cadre from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cadre currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.
View Our Latest Report on Cadre
Institutional Investors Weigh In On Cadre
A number of institutional investors and hedge funds have recently bought and sold shares of CDRE. Reinhart Partners LLC. acquired a new stake in Cadre during the 3rd quarter valued at $70,205,000. Ophir Asset Management Pty Ltd purchased a new stake in shares of Cadre in the second quarter valued at $21,872,000. Jane Street Group LLC purchased a new stake in shares of Cadre in the fourth quarter valued at $22,875,000. Vanguard Group Inc. boosted its stake in shares of Cadre by 15.2% during the third quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company's stock valued at $61,981,000 after acquiring an additional 224,218 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Cadre by 30.6% during the third quarter. Capital Research Global Investors now owns 930,318 shares of the company's stock valued at $33,966,000 after acquiring an additional 217,864 shares during the last quarter. Hedge funds and other institutional investors own 43.95% of the company's stock.
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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