Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) Director Purchases 51,400 Shares

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Anthony Leon Jr. Wood acquired 51,400 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the transaction, the director owned 51,400 shares of the company’s stock, valued at approximately $2,023,104. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cardinal Infrastructure Group Trading Down 0.5%

NASDAQ CDNL traded down $0.19 during mid-day trading on Monday, reaching $39.23. 635,236 shares of the stock were exchanged, compared to its average volume of 520,471. Cardinal Infrastructure Group Inc. has a 1-year low of $21.98 and a 1-year high of $96.40. The business’s fifty day simple moving average is $68.61 and its 200 day simple moving average is $50.36. The stock has a market capitalization of $1.68 billion and a PE ratio of 170.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDNL. Oppenheimer dropped their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus lowered their target price on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Three investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.33.

Institutional Inflows and Outflows

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