Cardinal Infrastructure Group (NASDAQ:CDNL) Sees Large Volume Increase – Time to Buy?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) saw unusually-high trading volume on Thursday . Approximately 734,169 shares changed hands during trading, an increase of 82% from the previous session’s volume of 403,434 shares.The stock last traded at $84.0210 and had previously closed at $81.94.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CDNL shares. Oppenheimer increased their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Stifel Nicolaus raised their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.33.

Cardinal Infrastructure Group Trading Up 5.8%

The company’s 50 day moving average is $57.55.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million during the quarter. Research analysts expect that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, COO Benjamin Wood acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at $1,026,000. This represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 61.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System bought a new position in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $28,000. Strs Ohio acquired a new stake in Cardinal Infrastructure Group during the first quarter valued at approximately $87,000. Barclays PLC acquired a new stake in Cardinal Infrastructure Group during the fourth quarter valued at approximately $152,000. GatePass Capital LLC bought a new stake in Cardinal Infrastructure Group during the first quarter worth approximately $274,000. Finally, Wasatch Advisors LP grew its position in Cardinal Infrastructure Group by 1.3% in the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after buying an additional 9,064 shares during the last quarter.

About Cardinal Infrastructure Group

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.