In a significant move, Cadre Holdings, Inc. (NYSE:CDRE) CEO and Chairman Warren B. Kanders has sold a substantial amount of company stock. The transaction, which took place on March 19, 2024, involved the sale of 1,438,127 shares at a price of $35.0 per share, resulting in a total sale value of over $50 million.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC) and indicates a notable change in Kanders' holdings in the company. Following the transaction, Kanders still owns 12,184,918 shares of Cadre Holdings, a leading manufacturer of orthopedic, prosthetic, and surgical appliances and supplies.
Cadre Holdings, based in Jacksonville, Florida, has seen its stock perform steadily, with the CEO's sale capturing investor attention. The shares sold were indirectly owned by Kanders through Kanders SAF, LLC, for which he is the sole manager and member.
In addition to the sale, the filing also shows that on March 18, 2024, Kanders received 33,540 restricted stock units and options to purchase 105,682 shares of Cadre Holdings' common stock under the company's 2021 Stock Incentive Plan. These derivatives are set to vest over the next few years, providing Kanders with the potential for future ownership in the company, subject to the plan's terms.
Investors and market watchers often scrutinize transactions by top executives for insights into their perspective on the company's future performance. The sale by Cadre Holdings' CEO is no exception and may be discussed for its implications in the investment community.
Cadre Holdings, Inc. continues to be a key player in its industry, and moves by its top executives are closely monitored by those with stakes in the company's success.
InvestingPro Insights
Following the significant sale of shares by Cadre Holdings, Inc. (NYSE:CDRE) CEO Warren B. Kanders, the company's financial metrics and recent stock performance offer additional context for investors. According to InvestingPro data, Cadre Holdings currently holds a market capitalization of $1.4 billion. The company's P/E ratio stands at 33.98, reflecting a high earnings multiple, which aligns with the InvestingPro Tip that the stock is trading at a high earnings multiple. This could suggest that investors have high expectations for the company's future earnings growth.
Cadre Holdings has also demonstrated a solid financial footing, with a revenue growth of 5.39% over the last twelve months as of Q4 2023. Moreover, the company's liquid assets exceed short-term obligations, providing financial stability and flexibility, as highlighted by one of the InvestingPro Tips. This is a crucial factor for investors considering the overall health of the company in uncertain economic times.
Despite a notable price dip over the past week, with a 1-week price total return of -11.07%, Cadre Holdings has shown strong long-term performance, with an impressive 1-year price total return of 88.98%. This robust return over the last year is also emphasized in the InvestingPro Tips, suggesting that the company has been rewarding for long-term investors.
For more detailed analysis and additional InvestingPro Tips, investors can explore InvestingPro's platform, which currently lists 10 more tips for Cadre Holdings. By using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering them valuable insights for making more informed investment decisions.
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