Cadre Holdings, Inc. $CDRE Holdings Boosted by Sei Investments Co.

Key Points

• Sei Investments significantly increased its Cadre Holdings position by 181.7% in the first quarter, bringing its stake to 107,856 shares valued at approximately $3.3 million. Institutional investors collectively own 43.95% of the company.
• Cadre reported quarterly EPS of $0.26, exceeding the $0.22 consensus estimate, while revenue of $207.13 million also surpassed analyst expectations. The company declared a $0.10 quarterly dividend, equivalent to a 1.2% annual yield.
• CEO Warren B. Kanders sold 100,000 shares for roughly $3.0 million, contributing to 175,000 insider shares sold during the quarter. Despite recent stock weakness, analysts maintain a “Moderate Buy” consensus with an average price target of $40.80.

Sei Investments Co. raised its position in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 181.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,856 shares of the company's stock after purchasing an additional 69,562 shares during the quarter. Sei Investments Co. owned 0.25% of Cadre worth $3,309,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KBC Group NV purchased a new stake in Cadre in the 1st quarter worth about $41,000. Assetmark Inc. increased its holdings in shares of Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company's stock valued at $58,000 after purchasing an additional 483 shares during the period. Danske Bank A S increased its holdings in shares of Cadre by 400.0% in the 4th quarter. Danske Bank A S now owns 1,500 shares of the company's stock valued at $61,000 after purchasing an additional 1,200 shares during the period. State of Wyoming purchased a new stake in shares of Cadre in the fourth quarter worth approximately $65,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Cadre by 110.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 43.95% of the company's stock.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.03, for a total transaction 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 represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 175,000 shares of company stock worth $5,091,500. Corporate insiders own 30.10% of the company's stock.

Cadre Stock Down 5.8%

Cadre stock opened at $32.98 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of 38.80 and a beta of 1.32. The firm's fifty day simple moving average is $29.78 and its 200-day simple moving average is $33.60. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt-to-equity ratio of 1.02. Cadre Holdings, Inc. has a 1-year low of $25.73 and a 1-year high of $48.76.

Cadre (NYSE:CDRE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Cadre had a net margin of 5.26% and a return on equity of 12.02%. The business had revenue of $207.13 million during the quarter, compared to analyst estimates of $178.29 million. Sell-side analysts forecast that Cadre Holdings, Inc. will post 1.47 earnings per share for the current fiscal year.

Cadre Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday. Roth Capital restated a "buy" rating and set 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. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group set a $40.00 price objective on Cadre in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

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.

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