Cadre Holdings, Inc. (NYSE:CDRE) Director Nicolas Sokolow recently sold a significant number of shares in the company, according to the latest regulatory filings. The transactions, which took place on June 7, 2024, involved the sale of 8,596 shares of Cadre Holdings' common stock at an average price of $32.075 per share, resulting in a total value of approximately $275,716.
The sales were conducted in multiple transactions at prices ranging from $32.00 to $32.14. While the exact number of shares sold at each price point within this range was not disclosed, the weighted average price reflects the overall value received by Sokolow for this batch of shares.
It's important to note that the shares sold by Sokolow were indirectly owned through various entities. According to footnotes in the filing, the shares sold were owned by ST Investors Fund, LLC, Korsak Holdings, LLC, and Madetys Investments, LLC. Sokolow holds positions as secretary and treasurer of the first two entities and is the general manager of the third. Despite the indirect ownership, Sokolow does have a pecuniary interest in these shares, as clarified in the footnotes.
Following the sale, the reporting documents indicate that Sokolow's indirect ownership through ST Investors Fund, LLC stands at 547,620 shares. Additionally, Korsak Holdings, LLC, and Madetys Investments, LLC hold 252,701 and 84,231 shares, respectively.
The disclosure of these transactions provides investors with insight into the trading activities of Cadre Holdings' insiders. Such filings are closely monitored by the market as they can sometimes provide indications of an insider’s perspective on the company's current valuation and future prospects.
Cadre Holdings, Inc., based in Jacksonville, Florida, operates in the orthopedic, prosthetic, and surgical appliances and supplies industry. As with any insider transactions, the market often looks to these events for potential signals about the company's financial health and the confidence level insiders have in the company's future performance.
In other recent news, Cadre Holdings has reported a strong Q1 performance with record net sales of $137.9 million, the highest since the company's inception. The company's robust financial results have been driven by significant margin expansions and two strategic acquisitions completed this year. The CEO, Warren Kanders, has reaffirmed the 2024 guidance for net sales and adjusted EBITDA, projecting growth rates of 16.6% and 23.5%, respectively. Despite transaction expenses and amortization of intangibles impacting earnings per share, Cadre generated strong free cash flow and remains committed to returning capital to shareholders. The company anticipates strong demand for its mission-critical safety equipment due to ongoing geopolitical uncertainty and the importance of defense budgets. Cadre's strategic focus includes increasing public safety budgets and favorable industry dynamics. The company's marketing and e-commerce teams are focused on growing their consumer channel presence and increasing visibility. These are recent developments that reflect the company's commitment to growth and value creation for shareholders.
InvestingPro Insights
Amidst the news of insider sales, Cadre Holdings, Inc. (NYSE:CDRE) continues to be a topic of interest for investors. Recent data from InvestingPro shows that Cadre Holdings, Inc. is trading at a P/E ratio of 31.43, which is considered high in the context of near-term earnings growth. This could suggest that investors are expecting higher earnings in the future, which aligns with the company's recent performance, as evidenced by a 63.48% return over the past year. Additionally, the company has a PEG Ratio of 0.55 for the last twelve months as of Q1 2024, indicating potential for growth when compared to the P/E ratio.
Despite the insider sales, it's noteworthy that analysts predict Cadre Holdings will be profitable this year, and the company has been profitable over the last twelve months. Furthermore, with a strong return over the last five years, Cadre Holdings seems to maintain a positive trajectory in the eyes of market observers. The company's liquid assets also exceed short-term obligations, which suggests financial stability and the ability to cover immediate liabilities.
To delve deeper into the financials and future projections of Cadre Holdings, interested investors can explore additional InvestingPro Tips that provide more comprehensive insights. There are currently 9 additional tips available, which can be accessed through the InvestingPro platform. For those looking to subscribe, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With a market capitalization of $1320M and a Price / Book ratio of 4.9 as of the last twelve months ending Q1 2024, Cadre Holdings is positioned as a company with a significant valuation in its market segment. Such metrics are essential for investors looking to gauge the company's size and the value placed on its net assets.
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