UBS Group AG Reduces Stock Holdings in Cadre Holdings, Inc. $CDRE

Key Points

• UBS Group AG cut its Cadre Holdings stake by 46% in the fourth quarter, selling 193,738 shares and ending with 227,152 shares valued at about $9.28 million.
• Cadre reported weaker-than-expected quarterly results, with EPS of $0.27 versus the $0.47 consensus and revenue of $167.22 million versus expectations of $182.94 million, while revenue fell 4.9% year over year.
• The company is still paying a dividend and has mixed Wall Street sentiment, with a quarterly payout of $0.10 per share (1.3% yield) and an average analyst rating of “Hold” with a $39.75 price target.

UBS Group AG lowered its position in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 46.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,152 shares of the company's stock after selling 193,738 shares during the quarter. UBS Group AG owned about 0.56% of Cadre worth $9,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Rafferty Asset Management LLC grew its holdings in shares of Cadre by 3.8% in the third quarter. Rafferty Asset Management LLC now owns 7,003 shares of the company's stock valued at $256,000 after purchasing an additional 259 shares during the period. Huntington National Bank lifted its position in Cadre by 33.9% in 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 during the last quarter. The Manufacturers Life Insurance Company lifted its position in Cadre by 3.2% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $458,000 after buying an additional 628 shares during the last quarter. Finally, Mariner LLC lifted its position in 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 during the last quarter. Hedge funds and other institutional investors own 43.95% of the company's stock.

Cadre Stock Performance

Shares of Cadre stock opened at $29.81 on Friday. The firm has a market capitalization of $1.28 billion, a P/E ratio of 33.49, a P/E/G ratio of 0.99 and a beta of 1.32. Cadre Holdings, Inc. has a 52 week low of $25.73 and a 52 week high of $48.76. The company has a quick ratio of 2.54, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The firm's 50 day moving average is $32.16 and its two-hundred day moving average is $38.85.

Cadre (NYSE:CDRE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). The company had revenue of $167.22 million during the quarter, compared to analysts' expectations of $182.94 million. Cadre had a net margin of 5.80% and a return on equity of 12.39%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Research analysts forecast 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 dividend of $0.10 per share. The ex-dividend date 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 (DPR) is 44.94%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Lake Street Capital reaffirmed a "buy" rating and issued a $53.00 target price on shares of Cadre in a research report on Wednesday, February 4th. Weiss Ratings cut shares of Cadre from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a "buy" rating and issued a $40.00 target price on shares of Cadre in a research report on Wednesday. Wall Street Zen cut shares of Cadre from a "strong-buy" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, Jefferies Financial Group set a $40.00 target price on shares of Cadre in a research report on Wednesday. One 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 given a Sell rating to the stock. According to MarketBeat.com, Cadre presently has an average rating of "Hold" and an average price target of $39.75.

Insider Activity

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $31.40, for a total transaction of $3,140,000.00. Following the transaction, the chief executive officer directly owned 10,017,039 shares in the company, valued at approximately $314,535,024.60. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 30.10% of the company's stock.

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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