Cardinal Infrastructure Group (NASDAQ:CDNL) Sets New 52-Week Low – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price reached a new 52-week low on Thursday. The stock traded as low as $13.89 and last traded at $14.2110, with a volume of 41,599 shares traded. The stock had previously closed at $14.64.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Research lowered shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Oppenheimer cut their price objective on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus lowered their target price on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The stock’s 50-day moving average is $31.36 and its 200 day moving average is $50.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market cap of $655.23 million and a PE ratio of 25.06.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share 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 analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Leon Wood acquired 51,400 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the acquisition, the director owned 51,400 shares in the company, valued at $2,023,104. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ivy Zelman bought 12,647 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were 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 in the company, valued at $1,302,812.51. This trade represents a 62.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 214,597 shares of company stock worth $8,285,516 over the last ninety days. 61.70% of the stock is currently owned by insiders.

Institutional Trading of Cardinal Infrastructure Group

Several hedge funds have recently made changes to their positions in the company. Conversant Capital LLC purchased a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $18,702,000. Principal Financial Group Inc. boosted its stake in shares of Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after purchasing an additional 284,918 shares during the last quarter. Engle Capital Management L.P. boosted its position in shares of Cardinal Infrastructure Group by 142.7% in the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock worth $12,610,000 after acquiring an additional 187,000 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Cardinal Infrastructure Group in the second quarter worth approximately $14,687,000. Finally, Ranger Investment Management L.P. acquired a new stake in shares of Cardinal Infrastructure Group in the second quarter worth approximately $11,768,000.

About Cardinal Infrastructure Group