Cadre Holdings, Inc. (NYSE:CDRE – Get Rating) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 662,000 shares, a growth of 17.8% from the December 31st total of 561,800 shares. Currently, 4.1% of the company's stock are sold short. Based on an average trading volume of 148,900 shares, the short-interest ratio is presently 4.4 days.
Wall Street Analyst Weigh In
CDRE has been the subject of a number of research analyst reports. Raymond James lifted their price target on Cadre from $29.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, November 11th. B. Riley boosted their price objective on Cadre from $32.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, November 11th. Finally, Stephens boosted their price objective on Cadre to $32.00 in a report on Wednesday, November 16th.
Get Cadre alerts:Insider Activity
In other news, CEO Warren B. Kanders sold 25,389 shares of the firm's stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $23.63, for a total value of $599,942.07. Following the completion of the transaction, the chief executive officer now owns 15,807,337 shares in the company, valued at approximately $373,527,373.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Warren B. Kanders sold 25,389 shares of Cadre stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $23.63, for a total transaction of $599,942.07. Following the completion of the transaction, the chief executive officer now owns 15,807,337 shares in the company, valued at $373,527,373.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicolas Sokolow sold 2,458 shares of Cadre stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $23.98, for a total value of $58,942.84. Following the transaction, the director now owns 134,889 shares of the company's stock, valued at approximately $3,234,638.22. The disclosure for this sale can be found here. Insiders sold 67,630 shares of company stock worth $1,475,048 in the last quarter. Corporate insiders own 52.93% of the company's stock.
Institutional Investors Weigh In On Cadre
Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank acquired a new position in Cadre during the second quarter valued at approximately $559,000. Pentwater Capital Management LP acquired a new position in Cadre during the second quarter valued at approximately $984,000. Quantbot Technologies LP acquired a new position in Cadre during the second quarter valued at approximately $404,000. New York State Common Retirement Fund raised its position in Cadre by 17.0% during the third quarter. New York State Common Retirement Fund now owns 14,510 shares of the company's stock valued at $349,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Cadre during the third quarter valued at approximately $942,000. 34.09% of the stock is currently owned by institutional investors and hedge funds.Cadre Price Performance
Shares of NYSE CDRE traded down $0.22 during midday trading on Monday, reaching $22.33. The company's stock had a trading volume of 41,836 shares, compared to its average volume of 86,397. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 2.53. Cadre has a fifty-two week low of $17.74 and a fifty-two week high of $31.50. The business's 50 day moving average price is $22.34 and its two-hundred day moving average price is $24.84. The company has a market cap of $833.58 million, a P/E ratio of 279.16 and a beta of 1.64.
Cadre (NYSE:CDRE – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.07). Cadre had a net margin of 0.80% and a return on equity of 3.86%. The business had revenue of $111.55 million during the quarter, compared to analyst estimates of $106.31 million. On average, analysts forecast that Cadre will post 0.22 EPS for the current fiscal year.
Cadre Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Friday, February 3rd will be given a $0.08 dividend. The ex-dividend date is Thursday, February 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.43%. Cadre's payout ratio is 400.05%.
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.
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