Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 7.2% – Should You Sell?

by · The Cerbat Gem

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL – Get Free Report)’s share price traded down 7.2% during mid-day trading on Wednesday . The company traded as low as $35.64 and last traded at $35.4650. 146,822 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 523,808 shares. The stock had previously closed at $38.22.

Analyst Ratings Changes

A number of equities research analysts recently commented on CDNL shares. Stifel Nicolaus decreased 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. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Oppenheimer reduced their price target on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardinal Infrastructure Group in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.33.

Get Our Latest Stock Report on CDNL

Cardinal Infrastructure Group Trading Up 5.4%

The stock has a market cap of $1.71 billion and a PE ratio of 65.40. The company’s fifty day moving average is $54.15 and its 200-day moving average is $52.08. 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 (NASDAQ:CDNL – Get Free Report) last issued its 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 firm had revenue of $226.93 million during the quarter. On average, analysts predict that Cardinal Infrastructure Group Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In other news, COO Benjamin Wood acquired 25,700 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $39.48 per share, for a total transaction of $1,014,636.00. Following the completion of the transaction, the chief operating officer owned 45,700 shares in the company, valued at approximately $1,804,236. The trade was a 128.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leon Wood bought 51,400 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the purchase, 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. Insiders have acquired 214,597 shares of company stock valued at $8,285,516 in the last quarter. 61.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Cardinal Infrastructure Group by 2,329.2% in the 2nd quarter. California State Teachers Retirement System now owns 16,956 shares of the company’s stock worth $1,597,000 after purchasing an additional 16,258 shares during the period. Round Rock Advisors LLC increased its position 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 valued at $2,114,000 after buying an additional 3,541 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Cardinal Infrastructure Group during the 2nd quarter worth approximately $14,687,000. Ranger Investment Management L.P. acquired a new stake in Cardinal Infrastructure Group in the 2nd quarter valued at $11,768,000. Finally, Bank of America Corp DE increased its holdings in Cardinal Infrastructure Group by 139.4% in the 1st quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock worth $4,989,000 after acquiring an additional 73,259 shares in the last quarter.

Cardinal Infrastructure Group Company Profile

(Get Free Report)

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.

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