Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 12-Month Low – Time to Sell?

by · The Markets Daily

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Friday. The company traded as low as $21.92 and last traded at $21.8710, with a volume of 914741 shares trading hands. The stock had previously closed at $25.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CDNL shares. Stifel Nicolaus lowered their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Oppenheimer dropped their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Truist Financial assumed coverage on shares of Cardinal Infrastructure Group in a research note on Friday, September 25th. They issued a “buy” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.25.

Check Out Our Latest Stock Analysis on CDNL

Cardinal Infrastructure Group Stock Performance

The stock has a market cap of $997.91 million and a P/E ratio of 38.13. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $38.56 and a two-hundred day moving average price of $51.81.

Cardinal Infrastructure Group (NASDAQ:CDNL – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) 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, sell-side analysts forecast that Cardinal Infrastructure Group Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, COO Benjamin Wood bought 25,700 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $39.48 per share, with a total value of $1,014,636.00. Following the completion of the acquisition, the chief operating officer owned 45,700 shares of the company’s stock, valued at $1,804,236. This represents a 128.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Bennett Wimmer bought 7,500 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $39.13 per share, for a total transaction of $293,475.00. Following the acquisition, the director directly owned 29,349 shares of the company’s stock, valued at approximately $1,148,426.37. This represents a 34.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 214,597 shares of company stock worth $8,285,516. Insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP grew 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 valued at $27,483,000 after purchasing an additional 9,064 shares in the last quarter. Emerald Advisers LLC lifted its position in shares of Cardinal Infrastructure Group by 12.7% in the first quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock worth $22,944,000 after buying an additional 65,245 shares in the last quarter. Conversant Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group in the first quarter worth about $18,702,000. Principal Financial Group Inc. boosted its stake in Cardinal Infrastructure Group by 198.8% during the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after buying an additional 284,918 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Cardinal Infrastructure Group during the 2nd quarter valued at approximately $14,687,000.

About Cardinal Infrastructure Group

(Get Free Report)

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.

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