Cadre Holdings, Inc. (NYSE:CDRE) Short Interest Up 21.8% in October

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

Cadre Stock Down 2.9 %

Shares of NYSE:CDRE traded down $0.98 on Friday, hitting $32.52. 368,992 shares of the company’s stock were exchanged, compared to its average volume of 171,886. The firm’s 50-day moving average is $36.76 and its 200 day moving average is $34.96. The company has a market capitalization of $1.32 billion, a PE ratio of 39.18, a P/E/G ratio of 1.92 and a beta of 1.30. Cadre has a 1-year low of $29.18 and a 1-year high of $40.28. 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 (NYSE:CDRE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, beating 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 firm had revenue of $109.41 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same period in the previous year, the company earned $0.29 earnings per share. Cadre’s quarterly revenue was down 12.6% compared to the same quarter last year. Sell-side analysts predict that Cadre will post 1.05 EPS for the current year.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.0875 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Cadre by 454.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock worth $55,000 after buying an additional 1,331 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Cadre during the 2nd quarter worth $141,000. Truist Financial Corp acquired a new position in shares of Cadre during the 2nd quarter worth $209,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Cadre during the 2nd quarter worth $216,000. Finally, Intech Investment Management LLC purchased a new position in shares of Cadre in the 3rd quarter valued at about $220,000. 43.95% of the stock is currently owned by institutional investors and hedge funds.

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.