Cadre (NYSE:CDRE) Trading Down 8.7% – What’s Next?

Cadre Holdings, Inc. (NYSE:CDRE) dropped 8.7% on Wednesday . The stock traded as low as $30.41 and last traded at $30.4910. 256,920 shares were traded during trading, a decline of 29% from the average session volume of 361,722 shares. The stock had previously closed at $33.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CDRE shares. JPMorgan Chase & Co. assumed coverage on Cadre in a report on Monday. They issued an “overweight” rating and a $40.00 price objective for the company. Weiss Ratings cut shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Zacks Research raised shares of Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. Jefferies Financial Group set a $40.00 price target on shares of Cadre in a research note on Wednesday, May 13th. Finally, Roth Capital reissued a “buy” rating and set a $40.00 price target on shares of Cadre in a research report on Wednesday, May 13th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Cadre Trading Down 8.4%

The firm has a 50 day simple moving average of $29.61 and a 200 day simple moving average of $34.16. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1.31 billion, a PE ratio of 33.93 and a beta of 1.33.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued 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 of this dividend is Friday, July 31st. Cadre’s dividend payout ratio is presently 44.94%.

Insider Activity at Cadre

In related news, CEO Warren B. Kanders sold 50,000 shares of Cadre stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $27.43, for a total value of $1,371,500.00. Following the completion of the sale, the chief executive officer directly owned 9,617,039 shares in the company, valued at approximately $263,795,379.77. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 175,000 shares of company stock worth $5,091,500 over the last 90 days. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several hedge funds and other institutional investors have recently bought and sold shares of CDRE. The Manufacturers Life Insurance Company grew its stake in Cadre by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company’s stock valued at $446,000 after acquiring an additional 438 shares in the last quarter. Assetmark Inc. lifted its stake in Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock worth $58,000 after purchasing an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cadre by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock worth $458,000 after purchasing an additional 628 shares in the last quarter. Mariner LLC boosted its holdings in shares of Cadre by 6.1% during the 3rd quarter. Mariner LLC now owns 11,174 shares of the company’s stock valued at $408,000 after purchasing an additional 643 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Cadre by 3.2% during the 2nd quarter. Sei Investments Co. now owns 21,040 shares of the company’s stock valued at $670,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 43.95% of the company’s stock.

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.