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Short Interest in Cadre Holdings, Inc. (NYSE:CDRE) Rises By 6.0%

Defense World · Jan 6, 2023 02:51

Cadre Holdings, Inc. (NYSE:CDRE – Get Rating) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 661,500 shares, a growth of 6.0% from the November 30th total of 624,300 shares. Based on an average daily volume of 148,300 shares, the days-to-cover ratio is currently 4.5 days. Approximately 4.1% of the company's shares are short sold.

Insider Transactions at Cadre

In other news, CEO Warren B. Kanders sold 26,423 shares of the firm's stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $20.08, for a total transaction of $530,573.84. Following the sale, the chief executive officer now owns 15,761,655 shares in the company, valued at $316,494,032.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Warren B. Kanders sold 26,423 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $20.08, for a total value of $530,573.84. Following the transaction, the chief executive officer now directly owns 15,761,655 shares of the company's stock, valued at approximately $316,494,032.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicolas Sokolow sold 2,458 shares of the stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $23.98, for a total value of $58,942.84. Following the completion of the transaction, the director now directly owns 134,889 shares in the company, valued at $3,234,638.22. The disclosure for this sale can be found here. Insiders have sold 67,630 shares of company stock worth $1,475,048 over the last quarter. 52.93% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On Cadre

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Cadre by 115.6% in the first quarter. Bank of New York Mellon Corp now owns 19,298 shares of the company's stock valued at $474,000 after acquiring an additional 10,349 shares during the period. BlackRock Inc. boosted its stake in Cadre by 14.0% in the first quarter. BlackRock Inc. now owns 305,937 shares of the company's stock valued at $7,515,000 after acquiring an additional 37,547 shares during the period. Vanguard Group Inc. boosted its stake in Cadre by 0.5% in the first quarter. Vanguard Group Inc. now owns 263,921 shares of the company's stock valued at $6,482,000 after acquiring an additional 1,346 shares during the period. Federated Hermes Inc. acquired a new position in Cadre in the first quarter valued at approximately $60,000. Finally, Penserra Capital Management LLC acquired a new position in Cadre in the first quarter valued at approximately $412,000. 34.09% of the stock is currently owned by institutional investors and hedge funds.

Cadre Stock Up 2.2 %

Shares of Cadre stock opened at $20.90 on Friday. The business has a 50-day moving average of $24.57 and a 200-day moving average of $24.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.53 and a quick ratio of 1.46. The company has a market capitalization of $780.24 million, a PE ratio of 261.28 and a beta of 1.64. Cadre has a 1-year low of $17.74 and a 1-year high of $31.50.

Cadre (NYSE:CDRE – Get Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.07). The firm had revenue of $111.55 million during the quarter, compared to analyst estimates of $106.31 million. Cadre had a return on equity of 3.86% and a net margin of 0.80%. As a group, equities analysts forecast that Cadre will post 0.22 EPS for the current fiscal year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 1st were paid a $0.08 dividend. The ex-dividend date was Monday, October 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.53%. Cadre's dividend payout ratio (DPR) is 400.05%.

Analyst Upgrades and Downgrades

CDRE has been the topic of several research reports. Stephens raised their price objective on Cadre to $32.00 in a research report on Wednesday, November 16th. B. Riley raised their price objective on Cadre from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, November 11th. Finally, Raymond James raised their price objective on Cadre from $29.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, November 11th.

About Cadre

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Cadre Holdings, Inc manufactures and distributes safety and survivability equipment 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 primarily provides body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brands; 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 and law enforcement equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.