Cadre Holdings, Inc. $CDRE Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson Group reduced its Cadre Holdings stake by 50.9% in the first quarter, selling 71,713 shares and retaining 69,108 shares worth approximately $2.12 million. Institutional investors collectively own 43.95% of the company.
• Cadre reported quarterly adjusted earnings of $0.26 per share, exceeding estimates of $0.22, while revenue reached $207.13 million versus expectations of $178.29 million. The company also declared a quarterly dividend of $0.10 per share, representing a 1.2% yield.
• Shares opened at $32.98 after declining 5.8%, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and an average price target of $40.80. CEO Warren B. Kanders sold 100,000 shares, and insiders sold 175,000 shares during the quarter.

Janus Henderson Group PLC cut its holdings in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,108 shares of the company's stock after selling 71,713 shares during the quarter. Janus Henderson Group PLC owned about 0.16% of Cadre worth $2,120,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Cadre by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company's stock worth $446,000 after purchasing an additional 438 shares in the last quarter. Assetmark Inc. boosted its holdings in Cadre by 34.6% during the first quarter. Assetmark Inc. now owns 1,878 shares of the company's stock worth $58,000 after buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 last quarter. Mariner LLC increased its holdings in shares of Cadre by 6.1% in 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. Finally, Sei Investments Co. increased its holdings in shares of Cadre by 3.2% in the second quarter. Sei Investments Co. now owns 21,040 shares of the company's stock valued at $670,000 after buying an additional 651 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

Cadre Trading Down 5.8%

Shares of NYSE CDRE opened at $32.98 on Friday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 38.80 and a beta of 1.32. The business has a 50 day simple moving average of $29.78 and a 200 day simple moving average of $33.60. Cadre Holdings, Inc. has a 52 week low of $25.73 and a 52 week high of $48.76. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.33 and a current ratio of 2.14.

Cadre (NYSE:CDRE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. Cadre had a net margin of 5.26% and a return on equity of 12.02%. The firm had revenue of $207.13 million during the quarter, compared to analysts' expectations of $178.29 million. On average, research analysts predict that Cadre Holdings, Inc. will post 1.47 earnings per share for the current fiscal year.

Cadre Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CDRE shares. Roth Capital reissued a "buy" rating and set a $40.00 price objective on shares of Cadre in a research note on Wednesday, May 13th. Weiss Ratings cut Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Zacks Research raised Cadre from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Cadre from a "hold" rating to a "buy" rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price target on shares of Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cadre currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Insider Buying and Selling at Cadre

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 9,817,039 shares of the company's stock, valued at $294,805,681.17. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 175,000 shares of company stock valued at $5,091,500. 30.10% of the stock is currently owned by company insiders.

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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