Cadre Holdings, Inc. (NYSE:CDRE) Sees Significant Decrease in Short Interest

Cadre Holdings, Inc. (NYSE:CDREGet Free Report) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,140,000 shares, a decrease of 8.8% from the May 15th total of 1,250,000 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 301,400 shares, the short-interest ratio is currently 3.8 days.

Cadre Stock Up 1.0 %

CDRE stock traded up $0.32 during mid-day trading on Wednesday, reaching $32.36. 186,795 shares of the company traded hands, compared to its average volume of 196,186. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average price is $32.66 and its 200 day moving average price is $33.76. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 1.86 and a beta of 1.30. Cadre has a fifty-two week low of $20.32 and a fifty-two week high of $39.81.

Cadre (NYSE:CDREGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). The company had revenue of $137.86 million for the quarter, compared to analysts’ expectations of $127.99 million. Cadre had a net margin of 7.58% and a return on equity of 19.18%. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. As a group, equities research analysts predict that Cadre will post 1.07 EPS for the current fiscal year.

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $0.0875 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $0.35 annualized dividend and a dividend yield of 1.08%. Cadre’s dividend payout ratio is currently 34.65%.

Insider Activity

In other news, Director Nicolas Sokolow sold 8,596 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.08, for a total value of $275,759.68. Following the sale, the director now directly owns 547,620 shares of the company’s stock, valued at approximately $17,567,649.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 49.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in Cadre by 12.8% in the third quarter. Swiss National Bank now owns 41,300 shares of the company’s stock worth $1,101,000 after purchasing an additional 4,700 shares during the last quarter. FMR LLC boosted its holdings in shares of Cadre by 12.4% in the 3rd quarter. FMR LLC now owns 5,637,904 shares of the company’s stock worth $150,250,000 after buying an additional 621,116 shares during the last quarter. Covestor Ltd grew its position in Cadre by 49,625.0% during the third quarter. Covestor Ltd now owns 1,989 shares of the company’s stock valued at $53,000 after buying an additional 1,985 shares during the period. Vanguard Group Inc. increased its holdings in Cadre by 2.0% during the third quarter. Vanguard Group Inc. now owns 931,296 shares of the company’s stock worth $24,819,000 after buying an additional 18,173 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Cadre in the fourth quarter worth about $229,000. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Cadre from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. B. Riley reiterated a “buy” rating and set a $48.00 target price (up previously from $40.00) on shares of Cadre in a research report on Wednesday, March 6th. Finally, Roth Mkm reissued a “buy” rating and set a $43.00 target price (up from $38.00) on shares of Cadre in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Check Out Our Latest Analysis on Cadre

About Cadre

(Get Free Report)

Cadre Holdings, Inc manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.

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