Warren B. Kanders, CEO and Chairman of Cadre Holdings, Inc. (NYSE:CDRE), recently sold 12,133 shares of the company's common stock. The shares were sold at a weighted average price of $36.22 per share, totaling approximately $439,457. Following this transaction, Kanders holds over 11.39 million shares indirectly through Kanders SAF, LLC. The sale took place on December 16, 2024, and was disclosed in a filing with the Securities and Exchange Commission.The transaction comes as Cadre Holdings trades near its 52-week high of $40.28, with the stock showing strong momentum, returning over 12% in the past year. According to InvestingPro analysis, the company is currently trading at elevated multiples, with a P/E ratio of 40.5 and a high EBITDA valuation multiple, suggesting the stock may be overvalued relative to its Fair Value. InvestingPro subscribers have access to 8 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of Cadre's valuation metrics and growth prospects.
In other recent news, Cadre Holdings has announced significant updates to its governance. The company's board of directors approved the Second Amended and Restated Bylaws, which include updated notice requirements for stockholder proposals and director nominations. These changes aim to ensure comprehensive information is provided for submissions. Cadre Holdings also adjusted its rules regarding stockholder lists for meetings, aligning with Delaware General Corporation Law updates. The new bylaws also detail the formation of board committees and expand the forum for dispute adjudication.
In addition to these governance modifications, Cadre Holdings has reported its financial results for the third quarter of 2024. The company released supplemental presentation materials to provide further insights into its financial performance and future projections. Despite potential risks and uncertainties in their markets, Cadre's management expressed confidence in their estimates and assumptions.
These recent developments, including the adoption of revised bylaws and the release of third quarter results, reflect Cadre Holdings' commitment to transparency and strategic planning amidst market uncertainties.
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