Cadre (NYSE:CDRE) Hits New 1-Year Low on Disappointing Earnings

Shares of Cadre Holdings, Inc. (NYSE:CDRE) hit a new 52-week low on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $25.73 and last traded at $26.76, with a volume of 102661 shares trading hands. The stock had previously closed at $31.36.

The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The business had revenue of $155.43 million during the quarter, compared to analysts’ expectations of $155.31 million. Cadre had a net margin of 7.23% and a return on equity of 13.50%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS.

Cadre Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 1st. Cadre’s payout ratio is currently 37.38%.

Analyst Upgrades and Downgrades

CDRE has been the topic of several analyst reports. Roth Mkm raised their target price on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Cadre from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research lowered shares of Cadre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Cadre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital restated a “buy” rating and issued a $53.00 target price on shares of Cadre in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $43.00.

Insiders Place Their Bets

In related news, CEO Warren B. Kanders sold 100,000 shares of Cadre stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $31.40, for a total value of $3,140,000.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CDRE. Rafferty Asset Management LLC boosted its position in Cadre by 3.8% during the 3rd 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 raised its holdings in Cadre by 33.9% during the third quarter. Huntington National Bank now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 325 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 period. Assetmark Inc. lifted its holdings in Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock valued at $58,000 after acquiring an additional 483 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cadre by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock valued at $458,000 after purchasing an additional 628 shares in the last quarter. 43.95% of the stock is currently owned by institutional investors.

Cadre Price Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.54 and a current ratio of 3.50. The company’s 50 day moving average price is $33.38 and its 200-day moving average price is $39.17. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.05 and a beta of 1.32.

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.