Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 1-Year Low – Time to Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $15.41 and last traded at $16.46, with a volume of 2,299,897 shares. The stock had previously closed at $18.62.

Analyst Upgrades and Downgrades

CDNL has been the topic of a number of research reports. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Truist Financial cut their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus reduced 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. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, 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 report on Wednesday, August 12th. Four equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The business’s fifty day simple moving average is $31.36 and its 200-day simple moving average is $50.51. 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 firm has a market cap of $654.14 million and a P/E ratio of 25.09.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (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. As a group, analysts forecast that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Leon Wood bought 51,400 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $39.36 per share, with a total value of $2,023,104.00. Following the acquisition, the director directly owned 51,400 shares of the company’s stock, valued at $2,023,104. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 acquisition, the director directly owned 32,891 shares in the company, valued at approximately $1,302,812.51. This trade represents a 62.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 214,597 shares of company stock worth $8,285,516. Company insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kings Path Partners LLC bought a new position in shares of Cardinal Infrastructure Group in the third quarter worth $319,000. Round Rock Advisors LLC increased its holdings in shares of Cardinal Infrastructure Group by 18.7% in the second quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after purchasing an additional 3,541 shares during the period. Wellington Management Group LLP bought a new position in shares of Cardinal Infrastructure Group in the second quarter worth $14,687,000. Ranger Investment Management L.P. bought a new position in shares of Cardinal Infrastructure Group in the second quarter worth $11,768,000. Finally, Bank of America Corp DE increased its holdings in shares of Cardinal Infrastructure Group by 139.4% in the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock worth $4,989,000 after purchasing an additional 73,259 shares during the period.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.