JACKSONVILLE, FL—Warren B. Kanders, CEO and Chairman of Cadre Holdings, Inc. (NYSE:CDRE), recently sold 50,000 shares of the company's common stock in two separate transactions, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on December 5 and December 6, involved sales at prices ranging from $35.67 to $35.83 per share, totaling approximately $1.79 million. The sales occurred as the $1.44 billion market cap company trades near its 52-week high of $40.28. According to InvestingPro analysis, the stock currently appears overvalued based on its proprietary Fair Value model.
Following these transactions, Kanders, who holds a significant interest in the company through various ownership structures, retains over 11.5 million shares indirectly, as well as additional shares held directly and through retirement accounts. The sales were conducted on behalf of Kanders SAF, LLC, a company where Kanders is the sole manager and member. InvestingPro data shows the company maintains strong financial health with a current ratio of 3.01, while analysts maintain a bullish outlook with price targets ranging from $37 to $48. For deeper insights into CDRE's valuation and financial metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Cadre Holdings has reported its third quarter 2024 financial results and updated its bylaws. The company's earnings call, which is available for replay, detailed its financial performance and future projections. The management of Cadre Holdings acknowledged potential risks and uncertainties in the markets they operate in but expressed confidence in their estimates and assumptions.
Simultaneously, Cadre Holdings has adopted the Second Amended and Restated Bylaws, which includes changes to advance notice requirements for stockholder proposals and director nominations, rules regarding stockholder lists for meetings, and the formation of board committees. The revised bylaws also expand the forum for dispute adjudication to the U.S. federal district court for the State of Delaware and establish exclusive federal jurisdiction over claims under the Securities Act of 1933.
The full text of the new bylaws is available in the company's recent 8-K filing with the Securities and Exchange Commission. Investors are encouraged to review these recent developments for a deeper understanding of the company's governance modifications and financial performance.
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