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Warren B. Kanders, CEO and Chairman of Cadre Holdings , Inc. (NYSE:CDRE), recently sold shares worth approximately $4.78 million, according to a Form 4 filing. The transactions took place on March 18 and 19, with shares sold at prices ranging from $31.73 to $32.20. Following these sales, Kanders continues to hold a significant number of shares indirectly through Kanders SAF, LLC. The sale occurred as Cadre Holdings, currently valued at $1.31 billion, trades at a relatively high P/E multiple of 37.5x. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
In addition to the sales, Kanders exercised restricted stock units on March 18, acquiring 11,180 shares of common stock. The shares were part of a previously granted stock award under Cadre Holdings’ 2021 Stock Incentive Plan. However, 4,400 of these shares were withheld by the company to cover tax obligations, valued at $32.33 per share, amounting to a total of $142,252. InvestingPro data shows the company maintains strong financial health with a current ratio of 3.48, indicating robust liquidity. Subscribers can access 8 additional key ProTips about CDRE’s financial position.
Kanders remains a significant shareholder, with direct and indirect holdings including shares owned through his Roth IRA and those of his spouse, Allison Kanders. The company has demonstrated solid performance with 17.6% revenue growth over the last twelve months, while analysts maintain price targets ranging from $40 to $48, suggesting potential upside from current levels.
In other recent news, Cadre Holdings reported its fourth-quarter earnings for 2024, revealing a mixed financial performance. The company fell short of earnings per share (EPS) expectations, posting $0.32 compared to the anticipated $0.49. However, Cadre Holdings exceeded revenue forecasts, achieving $175.98 million against the expected $162.81 million, marking a record for the company. This strong revenue performance has been supported by strategic product launches and acquisitions, particularly in the law enforcement and nuclear safety markets. The company’s guidance for 2025 projects net sales between $572 million and $610 million, with adjusted EBITDA expected to range from $105 million to $115 million. Additionally, Cadre Holdings announced an agreement to acquire the engineering division from Cars Group, which will expand its international footprint and enhance its nuclear safety product offerings. In terms of analyst activity, there were no specific upgrades or downgrades reported. The company continues to express concerns over potential tariff impacts and government spending uncertainties, which could affect future profitability.
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