Cardinal Infrastructure Group (NASDAQ:CDNL) CEO Purchases 83,350 Shares

by · The Markets Daily

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL – Get Free Report) CEO Jeremy Simmons Spivey acquired 83,350 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the completion of the purchase, the chief executive officer directly owned 83,350 shares in the company, valued at approximately $3,201,473.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cardinal Infrastructure Group Trading Down 0.5%

Shares of CDNL traded down $0.19 during trading hours on Monday, hitting $39.23. The stock had a trading volume of 635,236 shares, compared to its average volume of 520,471. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market cap of $1.68 billion and a P/E ratio of 170.57. The company’s fifty day simple moving average is $68.61 and its 200 day simple moving average is $50.36. 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 posted its quarterly 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 during the quarter. Equities research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDNL. Oppenheimer decreased their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Stifel Nicolaus cut their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Hold” and a consensus target price of $52.33.

Read Our Latest Analysis on Cardinal Infrastructure Group

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group during the 1st quarter worth $28,000. Strs Ohio acquired a new stake in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $87,000. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at about $152,000. GatePass Capital LLC bought a new position in shares of Cardinal Infrastructure Group during the first quarter worth about $274,000. Finally, Wasatch Advisors LP lifted its position in shares of Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after purchasing an additional 9,064 shares during the last quarter.

About Cardinal Infrastructure Group

(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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