Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 1-Year Low – Here’s Why

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reached a new 52-week low on Friday. The company traded as low as $21.92 and last traded at $21.8710, with a volume of 914,741 shares trading hands. The stock had previously closed at $25.06.

Analysts Set New Price Targets

CDNL has been the subject of several recent analyst reports. 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 research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Truist Financial reduced their target price on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer reduced 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, Zacks Research downgraded Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four 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’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Stock Down 5.4%

The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $31.36 and its 200-day moving average price is $50.51. The stock has a market cap of $657.55 million and a price-to-earnings ratio of 25.23.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million for the quarter. On average, sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, Director Ivy Zelman bought 12,647 shares of the stock in a transaction 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 purchase, the director directly owned 32,891 shares of the company’s stock, valued at $1,302,812.51. This trade represents a 62.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leon Wood purchased 51,400 shares of the stock in a transaction on Friday, August 14th. The stock was acquired 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 approximately $2,023,104. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its position in Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after buying an additional 9,064 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Cardinal Infrastructure Group by 12.7% during the first quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock valued at $22,944,000 after purchasing an additional 65,245 shares in the last quarter. Conversant Capital LLC bought a new position in Cardinal Infrastructure Group during the first quarter valued at approximately $18,702,000. Principal Financial Group Inc. boosted its position in Cardinal Infrastructure Group by 198.8% in the first 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. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Cardinal Infrastructure Group by 19.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after purchasing an additional 59,068 shares during the period.

Cardinal Infrastructure Group Company Profile