Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 6.4% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares traded down 6.4% on Wednesday . The stock traded as low as $42.33 and last traded at $42.2390. Approximately 201,988 shares were traded during mid-day trading, a decline of 61% from the average session volume of 524,242 shares. The stock had previously closed at $45.14.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDNL. Oppenheimer dropped their price target 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 Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Stifel Nicolaus dropped 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 research report on Wednesday, August 12th. Finally, Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cardinal Infrastructure Group has a consensus rating of “Hold” and an average target price of $52.33.

Cardinal Infrastructure Group Stock Down 6.0%

The firm has a 50-day simple moving average of $67.83 and a 200 day simple moving average of $50.58. The company has a market capitalization of $1.82 billion and a PE ratio of 77.15. 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 announced 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 company had revenue of $226.93 million during the quarter. On average, research analysts predict that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, Director Richard Melvin Jr. Lee purchased 34,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $36.82 per share, with a total value of $1,251,880.00. Following the acquisition, the director owned 68,254 shares in the company, valued at approximately $2,513,112.28. This trade represents a 99.26% 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. Also, CEO Jeremy Simmons Spivey purchased 83,350 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $38.41 per share, for a total transaction of $3,201,473.50. Following the purchase, the chief executive officer directly owned 83,350 shares in the company, valued at $3,201,473.50. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 234,597 shares of company stock valued at $9,311,516. 61.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at approximately $28,000. Strs Ohio bought a new stake in shares of Cardinal Infrastructure Group in the first quarter worth $87,000. Barclays PLC bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $152,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Finally, XTX Topco Ltd acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at $242,000.

About Cardinal Infrastructure Group

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.