Cardinal Infrastructure Group (NASDAQ:CDNL) Sees Large Volume Increase – Time to Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares saw unusually-strong trading volume on Thursday . 734,169 shares traded hands during trading, an increase of 82% from the previous session’s volume of 403,434 shares.The stock last traded at $84.0210 and had previously closed at $81.94.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDNL. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus lifted their price target on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Oppenheimer boosted their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group presently has a consensus rating of “Hold” and a consensus target price of $59.33.

Cardinal Infrastructure Group Price Performance

The firm has a 50-day simple moving average of $59.19.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The firm had revenue of $418.92 million during the quarter. Analysts forecast that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the purchase, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 61.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System purchased a new stake in Cardinal Infrastructure Group during the 1st quarter worth approximately $28,000. Strs Ohio purchased a new position in Cardinal Infrastructure Group in the 1st quarter valued at approximately $87,000. Barclays PLC purchased a new position in Cardinal Infrastructure Group in the 4th quarter valued at approximately $152,000. Zuckerman Investment Group LLC acquired a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $242,000. Finally, XTX Topco Ltd acquired a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $242,000.

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.