Ranger Investment Management L.P. Takes $11.77 Million Position in Cardinal Infrastructure Group Inc. $CDNL

Ranger Investment Management L.P. purchased a new stake in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) in the second quarter, HoldingsChannel.com reports. The firm purchased 124,927 shares of the company’s stock, valued at approximately $11,768,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth about $31,082,000. Ophir Asset Management Pty Ltd purchased a new position in Cardinal Infrastructure Group during the fourth quarter valued at approximately $23,865,000. Wasatch Advisors LP lifted its holdings in Cardinal Infrastructure Group by 1.3% in the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after acquiring an additional 9,064 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Cardinal Infrastructure Group in the fourth quarter valued at approximately $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth approximately $14,612,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Oppenheimer decreased their target price on shares of 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. Stifel Nicolaus lowered their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cardinal Infrastructure Group has an average rating of “Hold” and an average price target of $52.33.

Insider Transactions at Cardinal Infrastructure Group

In related news, CEO Jeremy Simmons Spivey acquired 83,350 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the completion of the acquisition, the chief executive officer directly owned 83,350 shares in the company, valued at approximately $3,201,473.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ivy Zelman acquired 12,647 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the acquisition, the director owned 32,891 shares of the company’s stock, valued at approximately $1,302,812.51. This represents a 62.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 234,597 shares of company stock worth $9,311,516 in the last ninety days. Company insiders own 61.70% of the company’s stock.

Cardinal Infrastructure Group Price Performance

Shares of CDNL opened at $43.50 on Monday. 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 Inc. has a 12 month low of $21.98 and a 12 month high of $96.40. The stock’s 50 day moving average is $66.51 and its two-hundred day moving average is $50.95. The firm has a market cap of $2.06 billion and a P/E ratio of 79.09.

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

Cardinal Infrastructure Group 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.