Ivy Zelman Acquires 12,647 Shares of Cardinal Infrastructure Group (NASDAQ:CDNL) Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman purchased 12,647 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $39.61 per share, with a total value of $500,947.67. Following the completion of the acquisition, the director directly owned 32,891 shares of the company’s stock, valued at $1,302,812.51. This represents a 62.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cardinal Infrastructure Group Stock Performance

Shares of Cardinal Infrastructure Group stock opened at $45.14 on Wednesday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. Cardinal Infrastructure Group Inc. has a 52 week low of $21.98 and a 52 week high of $96.40. The firm’s 50 day moving average is $67.83 and its two-hundred day moving average is $50.58. The firm has a market capitalization of $1.94 billion and a P/E ratio of 82.07.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million for the quarter. Research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System purchased a new stake in Cardinal Infrastructure Group in the 1st quarter valued at $28,000. Strs Ohio purchased a new position in Cardinal Infrastructure Group during the 1st quarter worth $87,000. Barclays PLC purchased a new position in Cardinal Infrastructure Group during the 4th quarter worth $152,000. Zuckerman Investment Group LLC acquired a new position in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Finally, XTX Topco Ltd purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $242,000.

Cardinal Infrastructure Group News Summary

Here are the key news stories impacting Cardinal Infrastructure Group this week:

• Positive Sentiment: Company insiders purchased a combined 214,597 shares worth approximately $8.3 million between August 14 and 17. CEO Jeremy Simmons Spivey bought 83,350 shares, COO Benjamin Wood purchased 25,700, and directors Anthony Leon Jr. Wood, Richard Melvin Jr. Lee, Ivy Zelman and Richard Bennett Wimmer also made significant purchases. These transactions substantially increased their personal holdings and may signal that management views the recent weakness as an attractive entry point. Jeremy Simmons Spivey SEC filing Benjamin Wood SEC filing Richard Bennett Wimmer SEC filing
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating and an average price target of $52.33, which is above recent trading levels. However, Oppenheimer and Stifel recently lowered their targets to $70 and $52, respectively, while Zacks downgraded the stock to “Hold,” reflecting heightened uncertainty.
• Negative Sentiment: Cardinal Infrastructure’s latest quarterly results were weak relative to expectations: adjusted EPS was $0.26 versus the $0.48 consensus estimate, although revenue reached $226.93 million. The earnings miss and elevated valuation may limit upside and contribute to volatility.
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations involving CDNL. The announcement does not establish wrongdoing, but any resulting litigation, legal costs or reputational damage could weigh on investor sentiment. Block and Leviton investigation

Wall Street Analysts Forecast Growth

CDNL has been the subject of a number of research reports. Weiss Ratings raised shares of 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 report on Monday, July 13th. Stifel Nicolaus reduced their target price on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Oppenheimer decreased their target price on 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. Three equities research 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.33.

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.