Cadre (NYSE:CDRE) Shares Down 8.8% - What's Next?

Key Points

• Cadre shares fell 8.8% to about $31.96 in light trading, with volume down 93% versus the average session. The stock remains below its 200-day moving average of $33.61.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $40.80; JPMorgan recently raised its target to $45.00.
• Cadre’s latest quarterly results exceeded expectations, reporting $0.26 EPS versus $0.22 expected and revenue of $207.13 million versus $178.29 million expected. The company also declared a quarterly dividend of $0.10 per share, while insiders have sold 175,000 shares over the past quarter.

Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report)'s stock price was down 8.8% during trading on Friday . The stock traded as low as $32.88 and last traded at $31.9550. 27,072 shares were traded during trading, a decline of 93% from the average session volume of 370,279 shares. The stock had previously closed at $35.02.

Analyst Upgrades and Downgrades

CDRE has been the topic of a number of research analyst reports. Weiss Ratings downgraded Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price target on Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday. Roth Capital reaffirmed a "buy" rating and issued a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. Zacks Research raised shares of Cadre from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group set a $40.00 target price on Cadre in a research note on Wednesday, May 13th. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Cadre Price Performance

The company has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $33.61. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 39.32 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 2.26 and a debt-to-equity ratio of 1.04.

Cadre (NYSE:CDRE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $207.13 million during the quarter, compared to analysts' expectations of $178.29 million. Cadre had a return on equity of 12.16% and a net margin of 5.26%. As a group, research analysts predict that Cadre Holdings, Inc. will post 1.47 EPS for the current year.

Cadre Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Cadre's dividend payout ratio is presently 44.94%.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.03, for a total value of $3,003,000.00. Following the transaction, the chief executive officer 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 175,000 shares of company stock valued at $5,091,500. 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. KBC Group NV purchased a new stake in Cadre during the 1st quarter worth approximately $41,000. Assetmark Inc. increased its stake in shares of Cadre by 34.6% in the first quarter. Assetmark Inc. now owns 1,878 shares of the company's stock worth $58,000 after buying an additional 483 shares during the last quarter. Danske Bank A S increased its stake in shares of Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company's stock worth $61,000 after buying an additional 1,200 shares during the last quarter. State of Wyoming acquired a new position in Cadre during the 2nd quarter worth $61,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Cadre by 110.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock worth $136,000 after purchasing an additional 2,246 shares during the last quarter. 43.95% of the stock is owned by institutional investors and hedge funds.

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.

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