Cadre (NYSE:CDRE) Shares Gap Up – Still a Buy?

Shares of Cadre Holdings, Inc. (NYSE:CDRE) gapped up before the market opened on Monday . The stock had previously closed at $30.86, but opened at $32.68. Cadre shares last traded at $33.25, with a volume of 53,502 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group set a $40.00 price target on shares of Cadre in a research note on Wednesday, May 13th. JPMorgan Chase & Co. initiated coverage on shares of Cadre in a research note on Monday. They set an “overweight” rating and a $40.00 price objective for the company. Zacks Research raised Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings lowered Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Roth Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cadre currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Cadre Price Performance

The company’s fifty day moving average is $29.61 and its 200 day moving average is $34.16. The company has a quick ratio of 1.33, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.43 billion, a PE ratio of 37.58 and a beta of 1.33.

Cadre Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Cadre’s dividend payout ratio is presently 44.94%.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.03, for a total value 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 trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 175,000 shares of company stock valued at $5,091,500. Company insiders own 30.10% of the company’s stock.

Institutional Trading of Cadre

Several large investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in Cadre in the first quarter valued at about $41,000. Assetmark Inc. boosted its position in shares of Cadre by 34.6% in the first quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock worth $58,000 after buying an additional 483 shares during the period. Danske Bank A S boosted its position in shares of Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,200 shares during the period. State of Wyoming acquired a new stake in shares of Cadre in the fourth quarter valued at about $65,000. Finally, Tower Research Capital LLC TRC grew its stake 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 valued at $136,000 after buying an additional 2,246 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

About Cadre

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.