Reinhart Partners LLC. Buys 500,476 Shares of Cadre Holdings, Inc. $CDRE

Reinhart Partners LLC. boosted its stake in Cadre Holdings, Inc. (NYSE:CDRE) by 22.4% during the 2nd quarter, Holdings Channel reports. The firm owned 2,738,373 shares of the company’s stock after buying an additional 500,476 shares during the quarter. Cadre makes up about 1.8% of Reinhart Partners LLC.’s holdings, making the stock its 29th biggest position. Reinhart Partners LLC. owned about 0.06% of Cadre worth $78,071,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cadre from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on shares of Cadre from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday. Zacks Research raised shares of Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Roth Capital reissued a “buy” rating and issued a $40.00 price objective on shares of Cadre in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group set a $40.00 price objective on shares of Cadre in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.80.

Insider Buying and Selling

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the transaction, the chief executive officer directly owned 9,817,039 shares of the company’s stock, valued at approximately $294,805,681.17. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 175,000 shares of company stock valued at $5,091,500. 30.10% of the stock is owned by corporate insiders.

Cadre Stock Performance

CDRE stock opened at $32.98 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. The business’s fifty day simple moving average is $29.78 and its two-hundred day simple moving average is $33.60. Cadre Holdings, Inc. has a twelve month low of $25.73 and a twelve month high of $48.76. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 38.80 and a beta of 1.32.

Cadre (NYSE:CDRE) last issued its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $207.13 million during the quarter, compared to analyst estimates of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. Analysts predict that Cadre Holdings, Inc. will post 1.47 earnings per share for the current year.

Cadre Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, July 31st. Cadre’s dividend payout ratio is currently 44.94%.

Cadre 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.