Cadre Holdings, Inc. (NYSE:CDRE) Sees Large Growth in Short Interest

Cadre Holdings, Inc. (NYSE:CDRE) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,320,000 shares, a growth of 15.8% from the May 31st total of 1,140,000 shares. Based on an average trading volume of 259,600 shares, the days-to-cover ratio is presently 5.1 days. Currently, 5.1% of the company’s stock are sold short.

Cadre Trading Up 1.9 %

Shares of NYSE:CDRE opened at $33.56 on Monday. 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 company’s 50-day moving average price is $32.45 and its 200 day moving average price is $33.73. The company has a market cap of $1.36 billion, a PE ratio of 33.23, a P/E/G ratio of 1.94 and a beta of 1.29. Cadre has a fifty-two week low of $21.42 and a fifty-two week high of $39.81.

Cadre (NYSE:CDRE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Cadre had a net margin of 7.58% and a return on equity of 19.18%. The business had revenue of $137.86 million for the quarter, compared to the consensus estimate of $127.99 million. During the same period last year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. Sell-side analysts anticipate that Cadre will post 1.07 earnings per share for the current year.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a $0.0875 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.35 annualized dividend and a dividend yield of 1.04%. Cadre’s payout ratio is 34.65%.

Insider Buying and Selling at Cadre

In other news, Director Nicolas Sokolow sold 8,596 shares of the company’s stock in a transaction dated 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 owns 547,620 shares in the company, valued at approximately $17,567,649.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 49.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cadre

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Cadre by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 1,180,212 shares of the company’s stock valued at $42,724,000 after buying an additional 206,564 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Cadre by 32.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 460,500 shares of the company’s stock valued at $16,671,000 after acquiring an additional 113,722 shares during the period. Zimmer Partners LP acquired a new position in shares of Cadre during the first quarter valued at approximately $11,990,000. Lisanti Capital Growth LLC raised its holdings in Cadre by 127.5% during the first quarter. Lisanti Capital Growth LLC now owns 145,915 shares of the company’s stock worth $5,282,000 after purchasing an additional 81,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cadre by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 144,674 shares of the company’s stock worth $4,758,000 after purchasing an additional 3,237 shares during the period. 43.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on CDRE shares. Roth Mkm reiterated a “buy” rating and set a $43.00 target price (up previously from $38.00) on shares of Cadre in a research note on Wednesday, March 6th. Stifel Nicolaus boosted their price objective on shares of Cadre from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Finally, B. Riley reissued a “buy” rating and issued a $48.00 target price (up previously from $40.00) on shares of Cadre in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

About Cadre

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.