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 company’s shares are sold short. Based on an average daily trading volume, of 182,400 shares, the days-to-cover ratio is presently 9.5 days.

Cadre Trading Down 2.9 %

NYSE:CDRE traded down $0.98 on Friday, reaching $32.52. 368,992 shares of the company’s stock were exchanged, compared to its average volume of 171,886. The business has a fifty day moving average of $36.76 and a 200-day moving average of $34.96. The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65. Cadre has a 52-week low of $29.18 and a 52-week high of $40.28. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

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

Cadre Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.35 annualized dividend and a yield of 1.08%. Cadre’s dividend payout ratio (DPR) is 42.17%.

Hedge Funds Weigh In On Cadre

Several hedge funds and other institutional investors have recently made changes to their positions in CDRE. Price T Rowe Associates Inc. MD lifted its position in shares of Cadre by 32.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 460,500 shares of the company’s stock worth $16,671,000 after purchasing an additional 113,722 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cadre by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 1,180,212 shares of the company’s stock worth $42,724,000 after acquiring an additional 206,564 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Cadre by 28.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,036 shares of the company’s stock valued at $5,404,000 after acquiring an additional 35,476 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Cadre by 59.9% during the 2nd quarter. Old West Investment Management LLC now owns 220,211 shares of the company’s stock worth $7,390,000 after acquiring an additional 82,501 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cadre by 234.0% during the first quarter. SG Americas Securities LLC now owns 23,278 shares of the company’s stock worth $843,000 after purchasing an additional 16,308 shares during the last quarter. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Analyst Ratings Changes

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

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.