Cardinal Infrastructure Group (NASDAQ:CDNL) Director Ivy Zelman Acquires 12,647 Shares

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman purchased 12,647 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the purchase, the director owned 32,891 shares of the company’s stock, valued at approximately $1,302,812.51. This trade represents a 62.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cardinal Infrastructure Group Trading Down 0.5%

Shares of CDNL stock traded down $0.19 during trading hours on Monday, hitting $39.23. 635,236 shares of the company were exchanged, compared to its average volume of 520,471. The firm has a market cap of $1.68 billion and a P/E ratio of 170.57. Cardinal Infrastructure Group Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $96.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59. The company has a 50 day simple moving average of $68.61 and a two-hundred day simple moving average of $50.36.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million for the quarter. Equities analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Oppenheimer cut their price target on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Stifel Nicolaus reduced their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Hold” and a consensus price target of $52.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDNL. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $31,082,000. Ophir Asset Management Pty Ltd bought a new position in Cardinal Infrastructure Group in the 4th quarter valued at about $23,865,000. Wasatch Advisors LP lifted its position in Cardinal Infrastructure Group by 1.3% in the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after acquiring an additional 9,064 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $14,992,000. Finally, TimesSquare Capital Management LLC acquired a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $14,612,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.