Short Interest in Cadre Holdings, Inc. (NYSE:CDRE) Rises By 21.8%

Cadre Holdings, Inc. (NYSE:CDRE) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,730,000 shares, an increase of 21.8% from the October 15th total of 1,420,000 shares. Approximately 6.6% of the shares of the company are short sold. Based on an average daily trading volume, of 182,400 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective on shares of Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Cadre Price Performance

Shares of NYSE:CDRE traded down $0.98 during midday trading on Friday, reaching $32.52. 368,992 shares of the company’s stock traded hands, compared to its average volume of 171,886. The company has a market cap of $1.32 billion, a P/E ratio of 39.18, a PEG ratio of 1.92 and a beta of 1.30. The company has a fifty day simple moving average of $36.76 and a two-hundred day simple moving average of $34.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.96 and a current ratio of 3.01. Cadre has a 1 year low of $29.18 and a 1 year high of $40.28.

Cadre (NYSE:CDRE) last released its earnings results on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Cadre had a net margin of 6.34% and a return on equity of 12.88%. The business had revenue of $109.41 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. Equities analysts predict that Cadre will post 1.05 EPS for the current fiscal year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, November 1st. Cadre’s dividend payout ratio is presently 42.17%.

Institutional Investors Weigh In On Cadre

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Cadre by 21.2% in the first quarter. Vanguard Group Inc. now owns 1,180,212 shares of the company’s stock valued at $42,724,000 after purchasing an additional 206,564 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Cadre by 21.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 940,731 shares of the company’s stock worth $35,701,000 after acquiring an additional 167,214 shares during the last quarter. Fred Alger Management LLC increased its position in Cadre by 87.5% during the third quarter. Fred Alger Management LLC now owns 738,121 shares of the company’s stock worth $28,012,000 after purchasing an additional 344,483 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cadre by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 583,678 shares of the company’s stock valued at $22,155,000 after purchasing an additional 76,750 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Cadre by 32.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 460,500 shares of the company’s stock valued at $16,671,000 after purchasing an additional 113,722 shares during the last quarter. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Company Profile

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.