Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 7% – Here’s Why

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price was down 7% on Friday . The stock traded as low as $65.92 and last traded at $66.2860. Approximately 306,760 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 483,406 shares. The stock had previously closed at $71.27.

Analyst Ratings Changes

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

Cardinal Infrastructure Group Price Performance

The stock has a fifty day simple moving average of $68.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $2.71 billion and a price-to-earnings ratio of 275.22.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The company had revenue of $418.92 million during the quarter. Equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the acquisition, the chief operating officer owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $850,000. Bastion Asset Management Inc. bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at $4,016,000. Taylor Frigon Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $1,209,000. Emerald Mutual Fund Advisers Trust boosted its stake in Cardinal Infrastructure Group by 19.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after purchasing an additional 59,068 shares during the period. Finally, Engle Capital Management L.P. purchased a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $3,168,000.

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.