Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) Director Acquires $2,023,104.00 in Stock
by Doug Wharley · The Cerbat GemCardinal Infrastructure Group Inc. (NASDAQ:CDNL – Get Free Report) Director Anthony Leon Jr. Wood bought 51,400 shares of the company’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the completion of the acquisition, the director owned 51,400 shares of the company’s stock, valued at $2,023,104. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Cardinal Infrastructure Group Price Performance
Shares of NASDAQ:CDNL traded down $0.19 during trading on Monday, hitting $39.23. 635,236 shares of the stock were exchanged, compared to its average volume of 520,471. The company has a fifty day moving average price of $68.61 and a two-hundred day moving average price of $50.36. The company has a market cap of $1.68 billion and a PE ratio of 170.57. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. Cardinal Infrastructure Group Inc. has a 12-month low of $21.98 and a 12-month high of $96.40.
Cardinal Infrastructure Group (NASDAQ:CDNL – Get Free Report) 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 company had revenue of $226.93 million during the quarter. On average, analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current year.
Wall Street Analyst Weigh In
CDNL has been the subject of a number of research analyst reports. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Oppenheimer lowered their price objective on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus cut 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. 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 stock. According to data from MarketBeat, Cardinal Infrastructure Group has an average rating of “Hold” and an average price target of $52.33.
View Our Latest Analysis on Cardinal Infrastructure Group
Hedge Funds Weigh In On Cardinal Infrastructure Group
Several hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $31,082,000. Ophir Asset Management Pty Ltd acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter valued at $23,865,000. Wasatch Advisors LP purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth about $16,539,000. Adage Capital Partners GP L.L.C. acquired a new position in Cardinal Infrastructure Group in the 4th quarter valued at about $14,992,000. Finally, TimesSquare Capital Management LLC acquired a new position in Cardinal Infrastructure Group in the 4th quarter valued at about $14,612,000.
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.