Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Down 5.3% – Should You Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price was down 5.3% during trading on Tuesday. The company traded as low as $29.76 and last traded at $29.8420. Approximately 104,805 shares changed hands during trading, a decline of 80% from the average daily volume of 529,369 shares. The stock had previously closed at $31.52.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer cut their price target on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Truist Financial reduced their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus cut their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Zacks Research lowered Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Moderate Buy” and an average target price of $46.75.

Cardinal Infrastructure Group Stock Performance

The company’s 50-day simple moving average is $31.36 and its 200 day simple moving average is $50.51. The stock has a market cap of $657.55 million and a P/E ratio of 25.23. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. As a group, sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, Director Richard Bennett Wimmer acquired 7,500 shares of the stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the transaction, the director owned 29,349 shares in the company, valued at $1,148,426.37. This represents a 34.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Spivey purchased 83,350 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the completion of the purchase, the chief executive officer directly owned 83,350 shares of the company’s stock, valued at $3,201,473.50. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 214,597 shares of company stock valued at $8,285,516 over the last quarter. Company insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several hedge funds have recently added to or reduced their stakes in CDNL. Conversant Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group during the first quarter valued at $18,702,000. Principal Financial Group Inc. boosted its holdings in shares of Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after purchasing an additional 284,918 shares during the last quarter. Engle Capital Management L.P. lifted its position in shares of Cardinal Infrastructure Group by 142.7% in the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock worth $12,610,000 after buying an additional 187,000 shares in the last quarter. Wellington Management Group LLP purchased a new position in Cardinal Infrastructure Group during the 2nd quarter valued at approximately $14,687,000. Finally, Ranger Investment Management L.P. bought a new stake in Cardinal Infrastructure Group in the 2nd quarter worth approximately $11,768,000.

Cardinal Infrastructure Group Company Profile