Cardinal Infrastructure Group (NASDAQ:CDNL) Director Buys $500,947.67 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman acquired 12,647 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $39.61 per share, with a total value of $500,947.67. Following the acquisition, the director directly owned 32,891 shares of the company’s stock, valued at $1,302,812.51. This represents a 62.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cardinal Infrastructure Group Trading Down 4.0%

Shares of CDNL opened at $43.33 on Thursday. The firm’s 50 day simple moving average is $67.48 and its 200 day simple moving average is $50.70. The company has a market capitalization of $1.86 billion and a P/E ratio of 78.78. 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 Inc. has a 1-year low of $21.98 and a 1-year high of $96.40.

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

Wall Street Analysts Forecast Growth

CDNL has been the topic of a number of research reports. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Stifel Nicolaus decreased their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, 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 report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CDNL. California State Teachers Retirement System purchased a new position in shares of Cardinal Infrastructure Group in the first quarter worth about $28,000. Strs Ohio purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at about $87,000. Barclays PLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $152,000. GatePass Capital LLC bought a new position in Cardinal Infrastructure Group during the 1st quarter worth approximately $274,000. Finally, Bank of Nova Scotia bought a new position in Cardinal Infrastructure Group during the 1st quarter worth approximately $366,000.

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.