Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Falls 5.3% – Should You Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price fell 5.3% on Thursday. The stock traded as low as $29.87 and last traded at $28.99. 40,276 shares were traded during trading, a decline of 92% from the average session volume of 536,004 shares. The stock had previously closed at $30.60.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNL. Oppenheimer decreased their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Stifel Nicolaus decreased their price objective on shares of 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. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Truist Financial started coverage on shares of Cardinal Infrastructure Group in a report on Friday, September 25th. They set a “buy” rating and a $40.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Cardinal Infrastructure Group presently has a consensus rating of “Moderate Buy” and an average price target of $49.25.

Cardinal Infrastructure Group Price Performance

The company has a market capitalization of $1.36 billion and a price-to-earnings ratio of 52.04. The stock has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $51.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The firm had revenue of $226.93 million for the quarter. On average, equities research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.85 EPS for the current year.

Insider Activity

In other Cardinal Infrastructure Group news, COO Benjamin Wood acquired 25,700 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $39.48 per share, for a total transaction of $1,014,636.00. Following the completion of the transaction, the chief operating officer directly owned 45,700 shares of the company’s stock, valued at $1,804,236. This represents a 128.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Bennett Wimmer bought 7,500 shares of Cardinal Infrastructure Group stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $39.13 per share, with a total value of $293,475.00. Following the completion of the purchase, the director owned 29,349 shares in the company, valued at approximately $1,148,426.37. This trade represents a 34.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of large investors have recently added to or reduced their stakes in CDNL. Round Rock Advisors LLC lifted its stake in Cardinal Infrastructure Group by 18.7% in the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock valued at $2,114,000 after buying an additional 3,541 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Cardinal Infrastructure Group in the second quarter valued at approximately $14,687,000. Ranger Investment Management L.P. purchased a new position in shares of Cardinal Infrastructure Group in the second quarter valued at approximately $11,768,000. Bank of America Corp DE boosted its stake in shares of Cardinal Infrastructure Group by 139.4% in the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock worth $4,989,000 after acquiring an additional 73,259 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group in the first quarter worth approximately $28,000.

Cardinal Infrastructure Group Company Profile