Hennion & Walsh Asset Management Inc. Grows Holdings in Cadre Holdings, Inc. $CDRE

Hennion & Walsh Asset Management Inc. raised its position in Cadre Holdings, Inc. (NYSE:CDRE) by 42.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,231 shares of the company’s stock after buying an additional 17,599 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cadre were worth $2,163,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Cadre during the 3rd quarter worth $1,775,000. Advantage Alpha Capital Partners LP purchased a new stake in Cadre during the second quarter worth about $3,731,000. Greenhouse Funds LLLP raised its position in Cadre by 8.4% in the second quarter. Greenhouse Funds LLLP now owns 2,743,265 shares of the company’s stock worth $87,373,000 after acquiring an additional 213,298 shares during the period. Teacher Retirement System of Texas purchased a new position in Cadre in the second quarter valued at about $217,000. Finally, Geode Capital Management LLC grew its position in shares of Cadre by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 639,493 shares of the company’s stock valued at $20,370,000 after acquiring an additional 35,583 shares during the period. Institutional investors own 43.95% of the company’s stock.

Cadre Price Performance

Cadre stock opened at $43.43 on Thursday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 38.78, a PEG ratio of 1.40 and a beta of 1.36. Cadre Holdings, Inc. has a one year low of $27.07 and a one year high of $46.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. The business has a fifty day moving average price of $42.31 and a 200-day moving average price of $36.90.

Cadre (NYSE:CDRE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The business had revenue of $155.87 million for the quarter, compared to analysts’ expectations of $158.96 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 42.5% on a year-over-year basis. As a group, equities research analysts forecast that Cadre Holdings, Inc. will post 1.05 EPS for the current year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, October 31st. Cadre’s dividend payout ratio is presently 33.93%.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 1,257,038 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $39.00, for a total value of $49,024,482.00. Following the completion of the transaction, the chief executive officer directly owned 1,546 shares in the company, valued at approximately $60,294. This trade represents a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 31.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CDRE shares. Lake Street Capital lifted their price target on shares of Cadre from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Roth Capital reissued a “buy” rating and issued a $44.00 target price on shares of Cadre in a research report on Friday, October 10th. CJS Securities raised Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. B. Riley reissued a “buy” rating on shares of Cadre in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded Cadre from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.67.

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.