Reinhart Partners LLC. Acquires 247,458 Shares of Cadre Holdings, Inc. $CDRE

Key Points

• Reinhart Partners LLC increased its Cadre Holdings stake by 12.9% in the fourth quarter, buying 247,458 additional shares and bringing its total to 2.17 million shares, worth about $88.6 million.
• Insider selling was notable, as CEO Warren B. Kanders sold 100,000 shares at an average price of $31.93, reducing his direct ownership by 1%.
• Cadre’s recent results and outlook were mixed: the company missed quarterly EPS and revenue estimates, while analysts now have a consensus Hold rating with an average price target of $39.75.

Reinhart Partners LLC. lifted its holdings in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,170,349 shares of the company's stock after acquiring an additional 247,458 shares during the quarter. Cadre accounts for about 2.7% of Reinhart Partners LLC.'s holdings, making the stock its 18th biggest holding. Reinhart Partners LLC. owned approximately 5.34% of Cadre worth $88,638,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CDRE. Vanguard Group Inc. lifted its holdings in shares of Cadre by 15.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company's stock worth $61,981,000 after acquiring an additional 224,218 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Cadre by 30.6% in the 3rd quarter. Capital Research Global Investors now owns 930,318 shares of the company's stock worth $33,966,000 after acquiring an additional 217,864 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Cadre by 458.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 156,952 shares of the company's stock worth $4,999,000 after acquiring an additional 128,823 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Cadre by 51.6% during the 2nd quarter. Raymond James Financial Inc. now owns 359,702 shares of the company's stock valued at $11,457,000 after buying an additional 122,458 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Cadre by 94.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 112,912 shares of the company's stock valued at $4,122,000 after buying an additional 54,759 shares during the last quarter. 43.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $31.93, for a total value of $3,193,000.00. Following the sale, the chief executive officer directly owned 9,917,039 shares of the company's stock, valued at $316,651,055.27. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CDRE shares. Lake Street Capital reiterated a "buy" rating and set a $53.00 price target on shares of Cadre in a report on Wednesday, February 4th. 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 lowered shares of Cadre from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Cadre from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Cadre from a "strong-buy" rating to a "hold" rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $39.75.

Cadre Stock Down 1.3%

NYSE:CDRE opened at $30.23 on Wednesday. The firm's 50-day moving average price is $30.79 and its 200-day moving average price is $37.83. The company has a market capitalization of $1.29 billion, a PE ratio of 33.97, a P/E/G ratio of 1.02 and a beta of 1.32. 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 1-year low of $25.73 and a 1-year high of $48.76.

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

Cadre Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Cadre's dividend payout ratio is currently 44.94%.

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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