Cadre (NYSE:CDRE) Stock Price Down 8.7% - What's Next?

Key Points

• Cadre shares fell 8.7% to about $30.49 in Wednesday trading, with volume below the stock’s average session volume. The company has a $1.31 billion market capitalization and trades at a P/E ratio of 33.93.
• Analyst sentiment remains generally positive despite the decline: Cadre has a “Moderate Buy” consensus rating and an average price target of $39.80, roughly above the reported trading price.
• Cadre declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 1.3% yield. Meanwhile, insiders sold 175,000 shares over the last quarter, while institutional investors own 43.95% of the stock.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CDRE shares. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Roth Capital restated a "buy" rating and issued a $40.00 target price on shares of Cadre in a research note on Wednesday, May 13th. Zacks Research raised Cadre from a "strong sell" rating to a "hold" rating in a report on Thursday, June 4th. Jefferies Financial Group set a $40.00 price target on Cadre in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. started coverage on shares of Cadre in a report on Monday. They issued an "overweight" rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $39.80.

Cadre Stock Down 8.4%

The stock has a 50-day moving average of $29.61 and a two-hundred day moving average of $34.16. The company has a market cap of $1.31 billion, a P/E ratio of 33.93 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.26.

Cadre Dividend Announcement

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 issued a $0.10 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Cadre's dividend payout ratio (DPR) is currently 44.94%.

Insider Activity

In related news, CEO Warren B. Kanders sold 50,000 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $27.43, for a total transaction of $1,371,500.00. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 175,000 shares of company stock valued at $5,091,500 over the last quarter. 30.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cadre

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Cadre during the first quarter valued at about $230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cadre by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company's stock worth $458,000 after buying an additional 628 shares during the period. Jones Financial Companies Lllp lifted its holdings in Cadre by 24,275.0% in the first quarter. Jones Financial Companies Lllp now owns 4,875 shares of the company's stock worth $144,000 after buying an additional 4,855 shares during the period. Goldman Sachs Group Inc. boosted its position in Cadre by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 372,211 shares of the company's stock valued at $11,021,000 after acquiring an additional 31,123 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Cadre by 98.5% during the 1st quarter. Jane Street Group LLC now owns 48,052 shares of the company's stock valued at $1,423,000 after acquiring an additional 23,844 shares in the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

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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