Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 1-Year Low – Here’s What Happened

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $13.01 and last traded at $12.9950, with a volume of 744,178 shares changing hands. The stock had previously closed at $14.93.

Analysts Set New Price Targets

CDNL has been the topic of a number of research reports. Truist Financial lowered their price target on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Weiss Ratings lowered Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. 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 report on Wednesday, August 12th. Stifel Nicolaus decreased their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Cardinal Infrastructure Group has an average rating of “Hold” and an average price target of $46.75.

Cardinal Infrastructure Group Stock Down 15.6%

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 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $43.24. The company has a market cap of $597.88 million and a PE ratio of 23.11.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data 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. Research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, Director Richard Bennett Wimmer bought 7,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 29,349 shares in the company, valued at $1,148,426.37. The trade was a 34.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Spivey bought 83,350 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $38.41 per share, for a total transaction of $3,201,473.50. Following the transaction, the chief executive officer owned 83,350 shares of the company’s stock, valued at $3,201,473.50. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 214,597 shares of company stock valued at $8,285,516. Corporate insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CDNL. Conversant Capital LLC acquired a new stake in Cardinal Infrastructure Group in the 1st quarter worth about $18,702,000. Principal Financial Group Inc. increased its stake 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 acquiring an additional 284,918 shares during the last quarter. Engle Capital Management L.P. increased its stake in shares of Cardinal Infrastructure Group by 142.7% during the 1st quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock valued at $12,610,000 after acquiring an additional 187,000 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Cardinal Infrastructure Group during the 2nd quarter worth about $14,687,000. Finally, Ranger Investment Management L.P. purchased a new position in shares of Cardinal Infrastructure Group during the 2nd quarter worth about $11,768,000.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.