Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Down 4.6% – Should You Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price was down 4.6% on Tuesday. The stock traded as low as $15.01 and last traded at $15.1360. Approximately 61,017 shares were traded during trading, a decline of 90% from the average daily volume of 591,765 shares. The stock had previously closed at $15.87.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial set a $30.00 price target on shares of Cardinal Infrastructure Group and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus cut their price target 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 Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Oppenheimer decreased their price objective on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Finally, Zacks Research lowered Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $701.13 million and a P/E ratio of 26.99. The company’s 50 day simple moving average is $32.25 and its two-hundred day simple moving average is $50.89.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted 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. As a group, equities analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, Director Leon Wood purchased 51,400 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the transaction, the director directly owned 51,400 shares in the company, valued at approximately $2,023,104. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeremy Spivey purchased 83,350 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the completion of the acquisition, the chief executive officer directly owned 83,350 shares in the company, valued at approximately $3,201,473.50. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 214,597 shares of company stock worth $8,285,516 over the last ninety days. 61.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group during the 1st quarter worth about $28,000. Strs Ohio acquired a new stake in Cardinal Infrastructure Group in the 1st quarter valued at about $87,000. GatePass Capital LLC acquired a new stake in Cardinal Infrastructure Group in the 1st quarter valued at about $274,000. Bank of Nova Scotia acquired a new stake in Cardinal Infrastructure Group in the 1st quarter valued at about $366,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Cardinal Infrastructure Group in the first quarter worth about $1,040,000.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group, Inc (NASDAQ: CDNL) is an infrastructure services company serving customers in the telecommunications and utility industries. The company focuses on the development, construction, installation and maintenance of infrastructure used to support communications networks and essential utility systems.

Its service offerings are centered on communications and utility infrastructure projects, including work associated with fiber-optic and other network deployments.