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

Cadre Holdings, Inc. (NYSE:CDRE) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,910,000 shares, an increase of 5.5% from the January 15th total of 1,810,000 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average daily trading volume, of 292,200 shares, the short-interest ratio is currently 6.5 days.

Cadre Stock Down 1.6 %

CDRE traded down $0.56 on Monday, hitting $35.14. The company had a trading volume of 109,774 shares, compared to its average volume of 264,600. Cadre has a 52-week low of $29.18 and a 52-week high of $40.28. The stock has a fifty day simple moving average of $35.29 and a 200-day simple moving average of $35.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.01 and a quick ratio of 1.96. The firm has a market capitalization of $1.43 billion, a P/E ratio of 42.34, a P/E/G ratio of 1.63 and a beta of 1.27.

Cadre Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.095 per share. The ex-dividend date was Friday, January 31st. This is a positive change from Cadre’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.08%. Cadre’s payout ratio is currently 45.78%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price target on shares of Cadre from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Insider Buying and Selling at Cadre

In other Cadre news, Director Nicolas Sokolow sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the sale, the director now owns 482,620 shares in the company, valued at approximately $16,047,115. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Warren B. Kanders sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $33.55, for a total value of $1,677,500.00. Following the transaction, the chief executive officer now directly owns 11,682,211 shares in the company, valued at $391,938,179.05. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,346 shares of company stock worth $5,815,376 over the last three months. Company insiders own 37.00% of the company’s stock.

Institutional Trading of Cadre

A number of hedge funds have recently modified their holdings of CDRE. Truist Financial Corp bought a new stake in Cadre during the second quarter worth about $209,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Cadre by 9.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,364 shares of the company’s stock worth $735,000 after purchasing an additional 1,721 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cadre by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 18,390 shares of the company’s stock worth $698,000 after buying an additional 2,856 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Cadre by 66.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,732 shares of the company’s stock valued at $407,000 after buying an additional 4,289 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Cadre by 62.2% during the third quarter. Advisors Asset Management Inc. now owns 29,582 shares of the company’s stock valued at $1,123,000 after buying an additional 11,342 shares during the last quarter. 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.