Key Points
- CEO Warren Kanders sold 50,000 shares of Cadre Holdings on June 22 at an average price of $27.43, totaling about $1.37 million. After the sale, he still held 9.62 million shares, and the trade reduced his position by just 0.52%.
- Cadre stock was modestly higher, opening at $27.66 and rising 0.4% in Wednesday trading. Even so, the shares remain well below their 50-day and 200-day moving averages and closer to their 52-week low than high.
- Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average price target of $39.75. Recent reports included both rating downgrades and buy reiterations from firms such as Roth Mkm and Jefferies.
Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) CEO Warren Kanders sold 50,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $27.43, for a total transaction of $1,371,500.00. Following the completion of the sale, the chief executive officer directly owned 9,617,039 shares of the company's stock, valued at approximately $263,795,379.77. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Cadre Stock Up 0.4%
Shares of NYSE CDRE opened at $27.66 on Wednesday. The company has a market capitalization of $1.18 billion, a P/E ratio of 31.08 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. The company has a 50 day simple moving average of $30.00 and a 200-day simple moving average of $36.40. Cadre Holdings, Inc. has a 1 year low of $25.73 and a 1 year high of $48.76.
Cadre Announces Dividend
The firm also recently announced 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 of this dividend was Friday, May 1st. This represents a $0.40 annualized dividend and a yield of 1.4%. Cadre's dividend payout ratio (DPR) is 44.94%.
Analyst Upgrades and Downgrades
CDRE has been the topic of several recent analyst reports. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Zacks Research raised Cadre from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 4th. Roth Mkm restated a "buy" rating and issued a $40.00 price objective on shares of Cadre in a report on Wednesday, May 13th. Wall Street Zen cut shares of Cadre from a "strong-buy" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, Jefferies Financial Group set a $40.00 target price on shares of Cadre in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.
Get Our Latest Analysis on Cadre
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in Cadre in the 4th quarter valued at about $22,875,000. Reinhart Partners LLC. lifted its position in shares of Cadre by 12.9% during the fourth quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company's stock worth $88,638,000 after purchasing an additional 247,458 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $61,981,000 after purchasing an additional 224,218 shares during the period. Capital Research Global Investors boosted 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 valued at $33,966,000 after purchasing an additional 217,864 shares during the period. Finally, Fred Alger Management LLC grew its holdings 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 valued at $25,473,000 after purchasing an additional 198,750 shares in the last quarter. 43.95% of the stock is currently owned by hedge funds and other institutional investors.
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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