Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) COO Buys 20,000 Shares of Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) COO Benjamin Wood purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at $1,026,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cardinal Infrastructure Group Stock Performance

NASDAQ CDNL traded down $0.86 during trading hours on Friday, reaching $52.10. 388,373 shares of the company were exchanged, compared to its average volume of 376,663. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $63.18. The firm has a 50 day simple moving average of $47.11.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The business had revenue of $418.92 million during the quarter. As a group, analysts forecast that Cardinal Infrastructure Group Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDNL. Weiss Ratings started coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a “sell (e)” rating for the company. Oppenheimer started coverage on Cardinal Infrastructure Group in a report on Thursday. They issued an “outperform” rating and a $60.00 price target on the stock. DA Davidson raised their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Stifel Nicolaus raised their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Three 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 company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group currently has a consensus rating of “Hold” and an average target price of $52.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Taylor Frigon Capital Management LLC purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $1,209,000. Kornitzer Capital Management Inc. KS purchased a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $850,000. TimesSquare Capital Management LLC purchased a new position in Cardinal Infrastructure Group during the 4th quarter valued at about $14,612,000. Goldman Sachs Group Inc. purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth approximately $3,893,000. Finally, CenterBook Partners LP purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth approximately $1,994,000.

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.