Warren Kanders Sells 100,000 Shares of Cadre (NYSE:CDRE) Stock

Cadre Holdings, Inc. (NYSE:CDRE) CEO Warren Kanders sold 100,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were 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 of the company’s stock, valued at approximately $314,535,024.60. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cadre Stock Performance

Cadre stock opened at $30.68 on Friday. The company has a current ratio of 3.50, a quick ratio of 2.54 and a debt-to-equity ratio of 0.92. The firm has a market cap of $1.31 billion, a P/E ratio of 28.67, a P/E/G ratio of 1.19 and a beta of 1.34. Cadre Holdings, Inc. has a 1-year low of $27.07 and a 1-year high of $48.76. The firm has a 50-day moving average of $40.18 and a 200-day moving average of $40.27.

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 analysts’ consensus estimates of $0.47 by ($0.20). The business had revenue of $167.22 million for the quarter, compared to analysts’ expectations of $182.94 million. Cadre had a net margin of 7.23% and a return on equity of 13.50%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Sell-side analysts expect that Cadre Holdings, Inc. will post 1.05 EPS for the current year.

Cadre Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CDRE. CJS Securities raised Cadre to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. Roth Mkm upped their price objective on shares of Cadre from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. 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, Zacks Research lowered 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 given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cadre has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Investors Weigh In On Cadre

Hedge funds have recently made changes to their positions in the company. Reinhart Partners LLC. purchased a new stake in Cadre in the third quarter worth $70,205,000. Ophir Asset Management Pty Ltd purchased a new position in Cadre during the second quarter valued at $21,872,000. Jane Street Group LLC purchased a new position in Cadre during the fourth quarter valued at $22,875,000. Vanguard Group Inc. boosted its holdings in shares of Cadre by 15.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after buying an additional 224,218 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Cadre by 30.6% during the 3rd quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock valued at $33,966,000 after buying an additional 217,864 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors.

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.