Cardinal Infrastructure Group (NASDAQ:CDNL) COO Benjamin Wood Purchases 20,000 Shares

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the purchase, the chief operating officer owned 20,000 shares of the company’s stock, valued at $1,026,000. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Cardinal Infrastructure Group Stock Performance

Cardinal Infrastructure Group stock traded down $0.86 during trading hours on Friday, hitting $52.10. 388,373 shares of the stock traded hands, compared to its average volume of 376,663. The business’s 50-day moving average price is $47.11. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $63.18.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million for the quarter. On average, analysts predict that Cardinal Infrastructure Group Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CDNL shares. Stifel Nicolaus lifted their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. DA Davidson lifted their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings started coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating on the stock. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Oppenheimer started coverage on Cardinal Infrastructure Group in a research report on Thursday. They set an “outperform” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Hold” and a consensus target price of $52.67.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several hedge funds have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS bought a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at $850,000. Taylor Frigon Capital Management LLC bought a new position in Cardinal Infrastructure Group in the 4th quarter worth about $1,209,000. TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $14,612,000. Bastion Asset Management Inc. purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at about $4,016,000. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Cardinal Infrastructure Group by 19.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock valued at $14,239,000 after purchasing an additional 59,068 shares in the last quarter.

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.