Cadre (NYSE:CDRE) Shares Down 8.7% – Time to Sell?

Cadre Holdings, Inc. (NYSE:CDRE) shares fell 8.7% on Wednesday . The company traded as low as $30.41 and last traded at $30.4910. 256,920 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 361,722 shares. The stock had previously closed at $33.40.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CDRE shares. Weiss Ratings downgraded shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. began coverage on 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 note on Thursday, June 4th. Roth Capital reiterated a “buy” rating and issued a $40.00 price target on shares of Cadre in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group set 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Cadre Trading Up 0.2%

The stock has a 50 day simple moving average of $29.66 and a 200-day simple moving average of $33.99. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1.31 billion, a P/E ratio of 34.39 and a beta of 1.33.

Cadre Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.10 per share. The ex-dividend date is Friday, July 31st. This represents a $0.40 annualized dividend and a yield of 1.3%. Cadre’s payout ratio is 44.94%.

Insider Activity at Cadre

In related news, CEO Warren B. Kanders sold 100,000 shares of the business’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 transaction, the chief executive officer directly owned 9,817,039 shares in the company, valued at approximately $294,805,681.17. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 175,000 shares of company stock valued at $5,091,500 over the last 90 days. 30.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cadre

Institutional investors and hedge funds have recently bought and sold shares of the business. GW&K Investment Management LLC lifted its holdings in Cadre by 6.3% in the 4th quarter. GW&K Investment Management LLC now owns 824,927 shares of the company’s stock worth $33,690,000 after purchasing an additional 48,638 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in shares of Cadre by 12.9% during the 4th quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company’s stock valued at $88,638,000 after purchasing an additional 247,458 shares during the last quarter. Corbyn Investment Management Inc. MD increased its holdings in shares of Cadre by 102.3% in the first quarter. Corbyn Investment Management Inc. MD now owns 99,144 shares of the company’s stock worth $3,042,000 after purchasing an additional 50,143 shares during the last quarter. Caxton Associates LLP bought a new position in Cadre during the first quarter valued at approximately $543,000. Finally, Fred Alger Management LLC raised its holdings in shares of Cadre by 46.8% during the 4th quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock worth $25,473,000 after acquiring an additional 198,750 shares in the last quarter. 43.95% of the stock is owned by institutional investors.

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.