Warren B. Kanders, CEO and Chairman of Cadre Holdings, Inc. (NYSE:CDRE), recently sold 49,411 shares of the company's common stock. The shares were sold at a weighted average price of $33.56 per share, generating a total transaction value of approximately $1.66 million. The transaction comes as Cadre Holdings, with a market capitalization of $1.36 billion, trades near $34.20 per share. According to InvestingPro analysis, the stock appears overvalued based on its Fair Value calculations, though analysts maintain price targets ranging from $37 to $48. Following this sale, Kanders holds 11,632,800 shares indirectly through Kanders SAF, LLC.
In addition to his indirect holdings, Kanders also maintains direct ownership of 23,992 shares and indirect ownership of 1,305,650 shares through his Roth IRA and 23,450 shares through his spouse’s Roth IRA. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission for the period ending November 27, 2024.
In other recent news, Cadre Holdings has made significant strides in its corporate governance and financial performance. The company has adopted the Second Amended and Restated Bylaws, which include updated advance notice requirements for stockholder proposals and director nominations. The revised bylaws also address the formation of board committees and expand the forum for dispute adjudication to the U.S. federal district court for the State of Delaware.
Simultaneously, Cadre Holdings has reported its third quarter 2024 results. The company's management expressed confidence in their estimates and future expectations, despite acknowledging the potential risks and uncertainties in the markets in which it operates. The company did not mention any underperformance during the third quarter, but highlighted potential factors that could negatively impact its financial performance.
These are the recent developments from Cadre Holdings. The full text of the Second Amended and Restated Bylaws and the company's recent 8-K filing with the Securities and Exchange Commission can be found on the company's website. The earnings call and supplemental presentation materials, providing further insights into the company's financial status, are also available on the website for replay until November 20, 2024.
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