Reinhart Partners LLC. Takes Position in Cadre Holdings, Inc. $CDRE

Reinhart Partners LLC. purchased a new stake in Cadre Holdings, Inc. (NYSE:CDRE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,922,891 shares of the company’s stock, valued at approximately $70,205,000. Cadre makes up 2.3% of Reinhart Partners LLC.’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank grew its holdings in Cadre by 48.4% in the second quarter. Huntington National Bank now owns 960 shares of the company’s stock valued at $31,000 after purchasing an additional 313 shares during the period. Assetmark Inc. lifted its position in shares of Cadre by 43.1% during the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock valued at $44,000 after buying an additional 420 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Cadre in the 3rd quarter valued at $74,000. Ameritas Investment Partners Inc. increased its holdings in Cadre by 14.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,908 shares of the company’s stock worth $93,000 after acquiring an additional 357 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Cadre by 110.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock worth $136,000 after acquiring an additional 2,246 shares during the period. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Stock Down 0.1%

Shares of NYSE CDRE opened at $43.54 on Friday. The stock has a market cap of $1.77 billion, a PE ratio of 38.87, a P/E/G ratio of 1.43 and a beta of 1.36. The company has a current ratio of 3.64, a quick ratio of 2.58 and a debt-to-equity ratio of 0.87. Cadre Holdings, Inc. has a 12-month low of $27.07 and a 12-month high of $46.64. The company has a 50-day moving average of $42.24 and a 200 day moving average of $37.37.

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

Cadre Dividend Announcement

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

Insider Transactions at Cadre

In other Cadre news, CEO Warren B. Kanders sold 86,903 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $39.00, for a total value of $3,389,217.00. Following the completion of the sale, the chief executive officer directly owned 10,129,289 shares of the company’s stock, valued at $395,042,271. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CDRE shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Wall Street Zen raised shares of Cadre from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. CJS Securities upgraded Cadre to a “strong-buy” rating in a report on Thursday, December 11th. Lake Street Capital increased their target price on Cadre from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Roth Capital restated a “buy” rating and issued a $44.00 target price on shares of Cadre in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.