Emerald Mutual Fund Advisers Trust Has $14.24 Million Stock Holdings in Cardinal Infrastructure Group Inc. $CDNL

Emerald Mutual Fund Advisers Trust grew its holdings in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 19.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,063 shares of the company’s stock after acquiring an additional 59,068 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Cardinal Infrastructure Group were worth $14,239,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter valued at $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in Cardinal Infrastructure Group in the fourth quarter worth $23,865,000. Wasatch Advisors LP boosted its holdings 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 purchasing an additional 9,064 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Cardinal Infrastructure Group during the fourth quarter worth $14,992,000. Finally, TimesSquare Capital Management LLC acquired a new position in Cardinal Infrastructure Group during the fourth quarter worth $14,612,000.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CDNL shares. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus increased their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Oppenheimer raised their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, Zacks Research raised Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Cardinal Infrastructure Group Trading Down 4.8%

NASDAQ CDNL opened at $64.86 on Tuesday. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40. The business’s fifty day moving average price is $65.31. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.78 billion and a P/E ratio of 282.00.

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

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.