Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) Director Acquires $2,023,104.00 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Anthony Leon Jr. Wood purchased 51,400 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the purchase, the director owned 51,400 shares in the company, valued at approximately $2,023,104. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Cardinal Infrastructure Group Price Performance

Shares of NASDAQ:CDNL opened at $43.33 on Thursday. The company’s fifty day moving average price is $67.48 and its 200-day moving average price is $50.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $1.86 billion and a price-to-earnings ratio of 78.78. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $96.40.

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

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at about $28,000. Strs Ohio bought a new position in Cardinal Infrastructure Group during the 1st quarter worth approximately $87,000. Barclays PLC purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $152,000. GatePass Capital LLC purchased a new position in Cardinal Infrastructure Group in the 1st quarter worth approximately $274,000. Finally, Bank of Nova Scotia bought a new stake in Cardinal Infrastructure Group in the first quarter valued at approximately $366,000.

Analysts Set New Price Targets

CDNL has been the subject of several research analyst reports. Oppenheimer dropped their price target on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus cut their target price on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat, Cardinal Infrastructure Group has a consensus rating of “Hold” and a consensus target price of $52.33.

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.