Cadre (NYSE:CDRE) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Cadre with an “overweight” rating and a $40 price target, implying approximately 29.6% upside from the reported $30.87 share price.
• Analyst sentiment is broadly positive: Cadre has a “Moderate Buy” consensus rating and an average price target of $39.80, based on ratings from eight analysts.
• Cadre’s shares were trading below their 52-week high, while institutional investors owned 43.95% of the stock. CEO Warren B. Kanders recently sold 50,000 shares, and insiders sold 175,000 shares over the prior 90 days.

Research analysts at JPMorgan Chase & Co. assumed coverage on shares of Cadre (NYSE:CDRE - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The firm set an "overweight" rating and a $40.00 price target on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 29.58% from the stock's current price.

Several other research analysts have also commented on the stock. Weiss Ratings lowered shares of Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Jefferies Financial Group set a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. Zacks Research upgraded shares of Cadre from a "strong sell" rating to a "hold" rating in a report on Thursday, June 4th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.80.

Cadre Price Performance

Cadre stock opened at $30.87 on Monday. The firm's fifty day moving average is $29.46 and its 200 day moving average is $34.30. Cadre has a 52-week low of $25.73 and a 52-week high of $48.76. The company has a quick ratio of 1.33, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 34.69 and a beta of 1.33.

Insider Activity

In related news, CEO Warren B. Kanders sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 9,617,039 shares of the company's stock, valued at $263,795,379.77. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 175,000 shares of company stock valued at $5,091,500 in the last ninety days. 30.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cadre

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Reinhart Partners LLC. boosted its position in Cadre by 22.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock valued at $78,071,000 after acquiring an additional 500,476 shares in the last quarter. State Street Corp grew its stake in Cadre by 6.7% during the 4th quarter. State Street Corp now owns 1,217,689 shares of the company's stock worth $49,730,000 after buying an additional 76,685 shares during the last quarter. GW&K Investment Management LLC increased its position in Cadre by 6.3% during the 4th quarter. GW&K Investment Management LLC now owns 824,927 shares of the company's stock valued at $33,690,000 after buying an additional 48,638 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cadre by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 767,073 shares of the company's stock valued at $23,530,000 after buying an additional 60,382 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Cadre by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 670,294 shares of the company's stock valued at $27,380,000 after buying an additional 3,726 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.