Cadre Holdings, Inc. $CDRE Shares Sold by Capital Research Global Investors

Key Points

• Capital Research Global Investors reduced its Cadre Holdings stake by 9.3% in the fourth quarter, selling 86,835 shares and ending with 843,483 shares worth about $34.4 million.
• Several analysts remain positive on CDRE, with Roth Mkm and Jefferies setting $40 price targets and the stock carrying an overall Moderate Buy rating with an average target of $39.75.
• Cadre reported a weaker-than-expected quarter, with EPS of $0.27 versus $0.47 expected and revenue of $167.22 million versus $182.94 million expected; the company also paid a quarterly dividend of $0.10 per share.

Capital Research Global Investors trimmed its stake in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 843,483 shares of the company's stock after selling 86,835 shares during the quarter. Capital Research Global Investors owned approximately 2.07% of Cadre worth $34,448,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Rafferty Asset Management LLC grew its holdings in shares of Cadre by 3.8% during the third quarter. Rafferty Asset Management LLC now owns 7,003 shares of the company's stock valued at $256,000 after buying an additional 259 shares in the last quarter. Huntington National Bank grew its holdings in shares of Cadre by 33.9% during the third quarter. Huntington National Bank now owns 1,285 shares of the company's stock valued at $47,000 after buying an additional 325 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cadre by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company's stock valued at $446,000 after buying an additional 438 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cadre by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company's stock valued at $458,000 after buying an additional 628 shares in the last quarter. Finally, Mariner LLC grew its holdings in shares of Cadre by 6.1% during the third quarter. Mariner LLC now owns 11,174 shares of the company's stock valued at $408,000 after buying an additional 643 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CDRE. Roth Mkm reiterated a "buy" rating and set a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. Zacks Research upgraded Cadre from a "strong sell" rating to a "hold" rating in a report on Thursday, June 4th. Weiss Ratings downgraded Cadre from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Wall Street Zen downgraded Cadre from a "strong-buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Jefferies Financial Group set a $40.00 price target on Cadre in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $39.75.

Insider Activity

In other news, CEO Warren B. Kanders sold 100,000 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $31.93, for a total transaction of $3,193,000.00. Following the completion of the sale, the chief executive officer owned 9,917,039 shares in the company, valued at approximately $316,651,055.27. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 30.10% of the company's stock.

Cadre Stock Performance

Shares of NYSE CDRE opened at $30.26 on Wednesday. The business's 50-day moving average price is $30.63 and its two-hundred day moving average price is $37.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.26 and a quick ratio of 1.33. Cadre Holdings, Inc. has a one year low of $25.73 and a one year high of $48.76. The company has a market capitalization of $1.30 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32.

Cadre (NYSE:CDRE - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.20). Cadre had a net margin of 5.80% and a return on equity of 12.39%. The firm had revenue of $167.22 million during the quarter, compared to analysts' expectations of $182.94 million. During the same quarter last year, the firm earned $0.32 EPS. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts anticipate that Cadre Holdings, Inc. will post 1.34 earnings per share for the current fiscal year.

Cadre Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, May 1st. Cadre's dividend payout ratio is 44.94%.

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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