Do You Believe in the Growth Prospects of Cadre Holdings (CDRE)?

Investment management company Maran Capital Management recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. Maran Partners Fund returned +0.9%, net of all fees and expenses in the second quarter and +6.1% net year-to-date. The fund is compounded at the rate of 12% per year, net over the last five years. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Maran Capital Management highlighted stocks like Cadre Holdings, Inc. (NYSE:CDRE) in the second quarter 2023 investor letter. Headquartered in Jacksonville, Florida, Cadre Holdings, Inc. (NYSE:CDRE) manufactures and distributes safety and survivability equipment. On August 4, 2023, Cadre Holdings, Inc. (NYSE:CDRE) stock closed at $23.30 per share. One-month return of Cadre Holdings, Inc. (NYSE:CDRE) was 5.76%, and its shares lost 9.06% of their value over the last 52 weeks. Cadre Holdings, Inc. (NYSE:CDRE) has a market capitalization of $875.754 million.

Maran Capital Management made the following comment about Cadre Holdings, Inc. (NYSE:CDRE) in its second quarter 2023 investor letter:

“Cadre Holdings, Inc. (NYSE:CDRE) which we purchased just under two years ago at its IPO, has continued to execute well. The business’ “mission critical products with recurring demand characteristics” set the backdrop for the company to maintain a favorable price/cost spread; margins have expanded and should continue to do so. Cadre rhymes a bit with APG in that I think it can quietly generate exceptional returns as it steadily grows, expands margins, and executes accretive acquisitions.”

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Cadre Holdings, Inc. (NYSE:CDRE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Cadre Holdings, Inc. (NYSE:CDRE) at the end of first quarter which was 10 in the previous quarter.

We discussed Cadre Holdings, Inc. (NYSE:CDRE) in another article and shared the list of best defensive defense stocks to buy heading into 2023. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.