Cadre (NYSE:CDRE) Shares Gap Up - Should You Buy?

Key Points

• Cadre shares gapped higher, opening at $32.68 after a $30.86 close and last trading at $33.25. The company has a $1.39 billion market capitalization and a consensus analyst rating of “Moderate Buy” with a $39.80 price target.
• Analyst sentiment is generally positive: JPMorgan initiated coverage with an “overweight” rating and a $40 target, while Jefferies and Roth Capital also set $40 targets. However, ratings include two Holds and one Sell.
• Cadre declared a quarterly dividend of $0.10, equivalent to a 1.2% yield, while insiders have sold 175,000 shares worth about $5.1 million over the past 90 days.

Shares of Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $30.86, but opened at $32.68. Cadre shares last traded at $33.25, with a volume of 53,502 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CDRE shares. JPMorgan Chase & Co. started coverage on shares of Cadre in a research note on Monday. They issued an "overweight" rating and a $40.00 target price for the company. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Zacks Research raised 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 target price on Cadre in a research note on Wednesday, May 13th. Finally, Roth Capital reissued a "buy" rating and set a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cadre has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Cadre Stock Performance

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 36.45 and a beta of 1.33. 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 stock's 50 day moving average is $29.46 and its 200 day moving average is $34.30.

Cadre Announces Dividend

The company also recently announced 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%.

Insiders Place Their Bets

In related news, CEO Warren B. Kanders sold 50,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 9,617,039 shares in the company, valued at $263,795,379.77. The trade was a 0.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 175,000 shares of company stock worth $5,091,500. Company insiders own 30.10% of the company's stock.

Institutional Investors Weigh In On Cadre

A number of institutional investors have recently modified their holdings of CDRE. Reinhart Partners LLC. increased its position in Cadre by 22.4% during the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock worth $78,071,000 after acquiring an additional 500,476 shares during the period. State Street Corp increased its holdings in shares of Cadre by 6.7% during the fourth quarter. State Street Corp now owns 1,217,689 shares of the company's stock worth $49,730,000 after purchasing an additional 76,685 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Cadre by 6.3% in the fourth 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 during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 period. Finally, Geode Capital Management LLC grew its position in Cadre by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 670,294 shares of the company's stock worth $27,380,000 after buying an additional 3,726 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

About Cadre

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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