Warren B. Kanders, the CEO and Chairman of Cadre Holdings, Inc. (NYSE:CDRE), recently sold 100,000 shares of the company’s common stock over two consecutive days. The transactions, which took place on November 21 and 22, were executed at weighted average prices ranging from $32.77 to $33.25 per share, totaling approximately $3.3 million.
Following these sales, Kanders retains ownership of 11,732,211 shares indirectly through Kanders SAF, LLC. Additional holdings include 23,992 shares directly, 1,305,650 shares through his Roth IRA, and 23,450 shares through his spouse’s Roth IRA.
In other recent news, Cadre Holdings has disclosed key updates and financial insights. The company's board of directors approved the Second Amended and Restated Bylaws, which include updated advance notice requirements for stockholder proposals and director nominations, and more detailed disclosure rules. Furthermore, they adjusted the rules regarding stockholder lists for meetings, and addressed the formation of board committees. These changes aim to enhance clarity and consistency within the bylaws.
Cadre Holdings also reported its third quarter 2024 financial results. The earnings call, available for replay, covered the company's financial performance and future expectations. Despite acknowledging potential risks and uncertainties in the markets it operates in, Cadre's management expressed confidence in their estimates and assumptions.
Additional presentation materials have been released on the company's website to provide further insights into its financial status and future projections. These recent developments underline Cadre Holdings' commitment to transparency and strategic planning amidst market uncertainties.
InvestingPro Insights
In light of Warren B. Kanders' recent stock sale, it's worth examining Cadre Holdings' current financial position and market performance. According to InvestingPro data, Cadre Holdings has a market capitalization of $1.36 billion, with a price-to-earnings (P/E) ratio of 40.46. This relatively high P/E ratio suggests that investors are pricing in strong future growth expectations for the company.
An InvestingPro Tip indicates that Cadre Holdings has been delivering a significant return over the last week, with data showing a 1-week price total return of 8%. This recent uptick in stock price may have influenced the timing of Kanders' stock sale. Additionally, the company's stock is trading at 83.42% of its 52-week high, indicating that it has maintained a strong position in the market despite the recent insider sale.
Another relevant InvestingPro Tip highlights that Cadre Holdings operates with a moderate level of debt. This financial prudence could be reassuring to investors concerned about the company's ability to navigate potential economic headwinds.
For those seeking a deeper understanding of Cadre Holdings' financial health and market position, InvestingPro offers 5 additional tips that could provide valuable insights for investment decisions. These tips, along with real-time metrics and analyst forecasts, are available to InvestingPro subscribers, offering a comprehensive view of the company's prospects beyond this insider transaction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.